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Chandrika deposits $500 in an account paying an effective quarterly interest rate 2.01875%. Muhammad deposits $1,000 in an account paying an effective interest rate j4. After 23 years they have the same amount in their accounts. What is j4? O a. 1.30313% O b. 1.32819% O c. 1.37831% O d. 1.25301%

Chandrika deposits $500 in an account paying an effective quarterly interest rate 2.01875%. Muhammad deposits $1,000 in an account paying an effective interest rate j4. After 23 years they have the same amount in their accounts. What is j4? O a. 1.30313% O b. 1.32819% O c. 1.37831% O d. 1.25301%

Essentials Of Investments
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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10) the math of interest. please indicate if you are unsure or totally sure about the answer

Chandrika deposits $500 in an account paying an effective quarterly interest rate 2.01875%. Muhammad deposits $1,000 in an account paying an effective interest rate j4. After 23 years they have the same amount in their accounts. What is j4? a. 1.30313% b. 1.32819% O c. 1.37831% O d. 1.25301% e. 1.31566% Certainty OC=1 (Unsure: <67%) OC=2 (Mid: >67%) OC=3 ( Quite sure: >80%)
Transcribed Image Text:Chandrika deposits $500 in an account paying an effective quarterly interest rate 2.01875%. Muhammad deposits $1,000 in an account paying an effective interest rate j4. After 23 years they have the same amount in their accounts. What is j4? a. 1.30313% b. 1.32819% O c. 1.37831% O d. 1.25301% e. 1.31566% Certainty OC=1 (Unsure: <67%) OC=2 (Mid: >67%) OC=3 ( Quite sure: >80%)
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