Calculate the Effective Rate of Interest If $1,000 Grows to $1459.74

question 156

Short Answer

Calculate the effective rate of interest if $1,000 grows to $1459.74 in five years with semiannual compounding.

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Definitions:

Assault

An intentional act by one person that creates an apprehension in another of an imminent, harmful, or offensive contact.

Assault

An act that threatens physical harm to a person, whether or not actual harm is done.

Battery

A legal term referring to the intentional and unpermitted contact with another person, causing harm or offense.

Assault

An intentional act that creates an apprehension in another of an imminent, harmful or offensive contact.