Suppose you invest $4,000 in an account that pays 8.25% interest per year, compounded quarterly. (a) Find the amount (in $) after 2 years. (Round your answer to the nearest cent.) $ 4688.19 (b) How long (in yr) will it take for the investment to triple? (Round your answer to two decimal places.) yr
Suppose you invest $4,000 in an account that pays 8.25% interest per year, compounded quarterly. (a) Find the amount (in $) after 2 years. (Round your answer to the nearest cent.) $ 4688.19 (b) How long (in yr) will it take for the investment to triple? (Round your answer to two decimal places.) yr
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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![Suppose you invest $4,000 in an account that pays 8.25% interest per year, compounded quarterly.
(a) Find the amount (in $) after 2 years. (Round your answer to the nearest cent.)
$ 4688.19
x
(b) How long (in yr) will it take for the investment to triple? (Round your answer to two decimal places.)
уг](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc008cf30-3d35-4db0-a04c-369b71debc89%2Fc5d11266-d329-4469-8984-6131f35e54ce%2F5jsov9a_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose you invest $4,000 in an account that pays 8.25% interest per year, compounded quarterly.
(a) Find the amount (in $) after 2 years. (Round your answer to the nearest cent.)
$ 4688.19
x
(b) How long (in yr) will it take for the investment to triple? (Round your answer to two decimal places.)
уг
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