Ask Question
9 December, 04:45

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.

+2
Answers (1)
  1. 9 December, 08:11
    0
    Answer: R = 5.404% per year

    Formula: Where: r = n[ (A/P) ^1/nt - 1]
Know the Answer?
Not Sure About the Answer?
Find 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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers