If Money Triples in Value in 8 Years,what Nominal Rate

question 2

Multiple Choice

If money triples in value in 8 years,what nominal rate of interest compounded semi-annually is being earned?

• A)7.11%
• B)7.36%
• C)14.22%
• D)14.72%

---

Definitions:

T-test

A statistical test used to compare the means of two groups to determine if they are significantly different from each other.

Nonsignificant

An outcome of a statistical test indicating that the evidence is not strong enough to reject the null hypothesis.

Nonsignificant

A statistical term indicating that the results of an analysis do not show evidence to reject the null hypothesis, suggesting that any observed effect could be due to chance.

Insignificant

A term used in statistics to describe a result that fails to provide enough evidence to reject the null hypothesis.