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.

---

Definitions:

Circadian Cycle

A natural, internal process that regulates the sleep-wake cycle and repeats roughly every 24 hours.

Hypothalamus

A small region of the brain located below the thalamus that plays a crucial role in many essential functions, including hormone regulation, temperature control, and hunger.

Altered State

A condition of consciousness that is significantly different from one's normal waking state, often induced by substances, meditation, or hypnosis.

Consciousness

The quality or state of awareness, being aware of an external object or something within oneself, encompassing thoughts, feelings, and the environment.