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A Sum of $1250 Was Invested for 8 Years, and the Interest

question 66

Essay

A sum of $1250 was invested for 8 years, and the interest compounded quarterly. If this sum amounted to $6583.32\$ 6583.32 in the given time, what was the interest rate?


Definitions:

IUPAC Name

Stands for the International Union of Pure and Applied Chemistry name, which is a standardized system of naming chemical compounds according to their structure.

Diol

An organic compound containing two hydroxyl groups attached to different carbon atoms.

Primary Alcohol

An alcohol where the carbon bonded to the OH group is also attached to only one other carbon atom, typically more reactive in oxidation reactions.

Secondary Alcohol

An alcohol with the hydroxyl group attached to a carbon atom that is bonded to two other carbon atoms.

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