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3 years ago

7

An investor invests $100 in a certificate, which compounds semi-annually, for a time period of one year. If he wants to quadrupl

e his money in one year, what interest rate would be needed?

1 answer:

vagabundo [1.1K]3 years ago

8 0

4p=p(1+i/2)^2
4=(1+i/2)^2 solve for I
Hope it helps

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