Question: (Compound value solving for r) At what annual rate would the following have to be invested? a. $520 to grow to $1,212.45 in 11 years
(Compound value solving for r) At what annual rate would the following have to be invested? a. $520 to grow to $1,212.45 in 11 years b. $320 to grow to $480.23 in 6 years c. $50 to grow to $430.64 in 19 years d. $200 to grow to $268.02 in 6 years
Let's go through the calculations for each scenario using the compound interest formula: A = P(1+r)
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The compound interest formula is given by A P1 rn Where A is the amount of money accumulated after n ... View full answer
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