edithmar6215 edithmar6215

04-07-2021
Business

contestada

If $240,000 is invested today and returns $432,000 in 10 years, what formula can be used to calculate the interest rate

Respuesta :

05-07-2021

Answer:

r = (FV/PV)^(1/n) – 1

and

Interest is 6.05 %

Explanation:

Interest is calculated as :

r = (FV/PV)^(1/n) – 1

Thus,

The formula that can be used to calculate the interest rate is

r = ($432,000/$240,000)^(1/10) – 1

= 6.05 %

Answer Link

Otras preguntas

_______ is an example of an inhalant. a. Heroin b.Ecstasy c. Glue d. All of the above

what is the range of 14 and 25

How do demographers measure the rate at which a population is growing? a. by adding the birth rate to the infant mortality rate b. by subtracting the infant m

If prices rise but income stays the same, what is the effect on the quantity demanded? a. quantity demanded increases. b. fewer goods are bought. c. more goo

A sectarian school is run by a. the department of education. b. a religious church or denomination. c. the state. d. the parents.

Above a pressure of 200 atmospheres and at a temperature of 100 degrees Celsius, water is in gas phase. True or false?

Once collins is in the meadow, he begins to

Gradually increasing duration and intensity of activity is formally referred to as progression specificity overload reversibility

Isotopes are atoms of the same element with the same number of protons and a different number of a. electrons. b. molecules. c. neutrons. d. ions. reset sel

what is the first stage of adolescent growth?