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An investment offers to triple your money in 24 months (don't believe it). What rate per six months are you being offered?

User Vimm
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1 Answer

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Final answer:

The rate per six months being offered in the investment is 50%.

Step-by-step explanation:

To determine the rate per six months being offered in the investment, we need to find the annual interest rate offered. Since the investment triples the money in 24 months, it means the investment doubles the money in 12 months.

So, the annual interest rate is 100%.

To find the rate per six months, we divide the annual interest rate by 2 (because there are 2 six-month periods in a year):

Rate per six months = Annual interest rate / 2 = 100% / 2 = 50%

Therefore, you are being offered a rate of 50% per six months.

User Chawkinsuf
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