1
answer
0
watching
78
views
28 Sep 2019
If an investment of $20,000 is worth $22,076 at the end of one year with quarterly compounding:
1. What is the value of I?
2. What is the nominal interest rate per year(APR)?
3. What is the effective interest rate per year (APY)?
If an investment of $20,000 is worth $22,076 at the end of one year with quarterly compounding:
1. What is the value of I?
2. What is the nominal interest rate per year(APR)?
3. What is the effective interest rate per year (APY)?
Nusrat FatimaLv10
28 Sep 2019