If an investment grew to $13,000 in 3 years and the interest amount earned was $1,300, calculate

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If an investment grew to $13,000 in 3 years and the interest amount earned was $1,300, calculate the nominal interest rate compounded quarterly.

Round to two decimal places

Related Book For answer-question

Finite Mathematics and Its Applications

ISBN: 978-0134768632

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

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Posted Date: Feb 24, 2023 02:48 AM

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If an investment grew to $13,000 in 3 years and the interest amount earned was $1,300, calculate

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We can use the formula for compound interest A P1 rnnt whereA final ... View the full answer

Finite Mathematics and Its Applications

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