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
Related questions
Question
100%
RESOLVE THIS PROBLEM IN DIGITAL FORMAT (NOT HANDWRITTEN)
Solve the following problem step by step, include the formulas you use and the development please
In what time did $ 2,300 become $ 7,900 at 34% simple annual interest?
Expert Solution
Step 1
Simple Interest:
- It is a technique to compute the interest amount of interest at a specific interest rate and for a period of time.
Information Provided:
Present value = $2300
Amount = $7900
Rate = 34%
Step by step
Solved in 3 steps
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