What interest rate should be, if you would like to increase your present 8 000 USD...

 

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What interest rate should be, if you would like to increase your present 8 000 USD on to 15 000 USD within three years. Frequency of compounding is once a year. Example 6: What time should it take to triple your initial (present) capital when your interest rate is 2% p. a. a) if your frequency of compounding is once per year b) if your frequency of compounding is twice per year What interest rate should be, if you would like to increase your present 8 000 USD on to 15 000 USD within three years. Frequency of compounding is once a year. Example 6: What time should it take to triple your initial (present) capital when your interest rate is 2% p. a. a) if your frequency of compounding is once per year b) if your frequency of compounding is twice per year

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Lets break down the two scenarios Example 1 Increasing 8000 to 15000 in 3 years with annual compound... View the full answer