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Can someone do this? You invest $6000 today. What interest rate is needed to have $8000 in 4 years if money is compounded weekly?
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2 votes
Can someone do this? You invest $6000 today. What interest rate is needed to have $8000 in 4 years if

money is compounded weekly?

User Nathaniel Wendt
by
4.8k points

1 Answer

5 votes

Answer:

R = 7.197% per year

Explanation:

r = n[(A/P)1/nt - 1]

User Bastian Voigt
by
5.6k points
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