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Your initial investment of $20,000 doubles after 10 years. If the bank compounds interest quarterly, what is your interest rate?

Your initial investment of $20,000 doubles after 10 years. If the bank compounds interest quarterly, what is your interest rate?
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2 votes
Your initial investment of $20,000 doubles after 10 years. If

the bank compounds interest quarterly, what is your interest
rate?

User JavierIEH
by
8.1k points

1 Answer

4 votes

Answer:

2,000

20,000 *10 /100

this is the answer and this is how to solve it

User MichaelsonBritt
by
8.5k points
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