Ask Question
23 January, 06:33

An initial deposit of $5325 was made into an account that compounds interest semi-annually. No other deposits were made. At the end of 13 years, the balance in the account had doubled. Find the interest rate on this account.

0
Answers (1)
  1. 23 January, 07:28
    0
    Answer: R = 5.404% per year

    Formula: Where: r = n[ (A/P) ^1/nt - 1]
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “An initial deposit of $5325 was made into an account that compounds interest semi-annually. No other deposits were made. At the end of 13 ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers