What Is the Nominal Rate of Interest at Which Money

question 68

Essay

What is the nominal rate of interest at which money will triple itself in eight years and six months if compounded semi-annually?

---

Definitions:

Athletic Superiority

Athletic superiority refers to the superior physical abilities, skills, and accomplishments of individuals or teams in sports and athletic competitions.

Work Ethic

A set of values based on the moral virtues of hard work and diligence.

African Descent

Referring to individuals or groups whose ancestors originated from the African continent, often used in the context of diaspora and historical movements of peoples.

Archeologists

Scientists who study past human societies through the examination of material remains, such as artifacts, structures, and landscapes.