A person invested JD 50,000, after 4 years he invested an additional JD10,000, if after 10 years the total amount of these investments become JD 200,000. Find the annual interest rate for this investment.
A person invested JD 50,000, after 4 years he invested an additional JD10,000, if after 10 years the total amount of these investments become JD 200,000. Find the annual interest rate for this investment.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![A person invested JD 50,000, after 4 years he invested an
additional JD10,000, if after 10 years the total amount of these
investments become JD 200,000. Find the annual interest rate
for this investment.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F528607c6-94a4-41ae-9b45-2947576cec04%2F2cd30612-fcdc-4dcc-8ff8-b07519490219%2Fmbgv95a_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A person invested JD 50,000, after 4 years he invested an
additional JD10,000, if after 10 years the total amount of these
investments become JD 200,000. Find the annual interest rate
for this investment.
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