If an Initial Investment of $3000 Grows to $18,000 in Five

question 113

Short Answer

If an initial investment of $3000 grows to $18,000 in five years,find the nominal rate of interest,compounded quarterly,that was earned by the money.

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Definitions:

AIDA Format

AIDA stands for Attention, Interest, Desire, and Action, which is a marketing model used to describe the stages a customer goes through in the process of purchasing a product.

Business Report

A formal document that provides information and analysis on a business's operations, performance, or strategy to support decision-making.

Factors

Elements or conditions that contribute to a result or outcome.

Include

To make someone or something a part of a group, list, or collection.