Find the Rate of Interest Required to Achieve the Conditions

question 4

Multiple Choice

Find the rate of interest required to achieve the conditions set forth.
-A = $32,000 P = $8,000
T = 20 years
Compounded annually

• A) 7.1773%
• B) 8%
• C) 3.5265%
• D) 5.6467%

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Definitions:

Youngest Layer

the most recent geological layer, usually found at the top of a sequence in stratigraphy.

Oldest Layer

Pertains to the earliest or first-formed layer of sediment or rock in a sequence, indicating the earliest period of deposition.

Numbered Units

Quantitative values assigned to items or units in order to denote quantity, order, or position.

Youngest

This term relates to the latest or most recently developed strata or earth materials in geological studies.