Cecilia invested $ 5 0 0 0 in an account four years ago. Today her account has

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Question:

Cecilia invested $

5000

in an account four years ago. Today her account has a balance of $

6200 .

Given that her account offered quarterly compounding of interest, the APR on this account is

?

Related Book For answer-question

Taxation Of Individuals And Business Entities 2015

ISBN: 9780077862367

6th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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Posted Date: Mar 25, 2024 07:41 AM

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Cecilia invested $ 5 0 0 0 in an account four years ago. Today her account has

Question:

Expert Answer:

We can find the APR Annual Percentage Rate for Cecilias account using the compound interest formula ... View the full answer

Taxation Of Individuals And Business Entities 2015

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