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damaskus [11]
3 years ago
11

Suppose an investment offers to triple your money in 36 months (don’t believe it). What rate of return per quarter are you being

offered
Business
1 answer:
Sliva [168]3 years ago
7 0
By the term quarter, we mean to say that a year is to be divided in four equal parts. Each year has 12 months. Therefore, each quarter is only composed of 3 months. The rate of tripling the money in 36 months can also be expressed in its equivalent in 3 months.
                   3/36 = x /3
The value of 3 is equal to 9/36 or 1/4. Therefore, the money will grow by 0.25% every quarter. 
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