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2 years ago

14

you have 1000 to invest in an account and you need to have 1500 in one year what interest rate would you need to have in order t

o reach this goal if the amount is compounded quarterly round your answer to the nearest percent. Can someone help me please

1 answer:

Anna007 [38]2 years ago

3 0

Answer: 42.7%

Step-by-step explanation:

A = p (1+r/n)^nt

1500 = 1000 (1 + r/4)^4x1

r = 42.673

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