joshterranova1
joshterranova1 joshterranova1
  • 23-05-2020
  • Mathematics
contestada

An initial deposit of $13,700 was made into an account that compounds interest quarterly. No other deposits were made. At the end of 12 years, the balance in the account had doubled. Find the interest rate on this account.

Respuesta :

gilbertazavedo72
gilbertazavedo72 gilbertazavedo72
  • 30-05-2020

Answer:

5.818 %

Step-by-step explanation:

Where: r = n[(A/P)1/nt - 1)

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