Answer:
ok
Step-by-step explanation:
Answer:
1.45
Step-by-step explanation:
1.45 is already rounded to the nearest hundredth..
The rate of interest required to achieve the conditions set forth is 7.1773%.
<h3>What is the interest rate?</h3>
The interest rate is the rate at which the investment increases. The formula that can be used to determine interest rate is:
g = (FV / PV)^(1/N) - 1
Where:
- FV = future value = $32,000
- PV = present value = $8000
- n = number of years
4^(1/20) - 1 = 7.1773%
To learn more about interest rate, please check: brainly.com/question/26164549
