# math homework compound interest

*label*Mathematics

*timer*Asked: May 21st, 2019

*account_balance_wallet*$15

### Question Description

compound interest business math please see attached homework sheet there is 9 questions thank you

### Unformatted Attachment Preview

## Tutor Answer

Attached.

1

Running head: COMPOUND INTEREST

Compound Interest

Your name

Institutional Affiliations

Name of Professor

Date of Submission

COMPOUND INTEREST

2

Business Math Homework

Q1: Monthly compounded rate of return, R is as follows:

Let initial investment be V and monthly return be R%.

Number of months = 8 x 12 = 96

Then,

V x (1 + R)96 = 3 x V

(1 + R)96 = 3

Taking 96th root,

1 + R = 1.0115

R = 0.0115

R = 1.15%

Q2: Equivalence annual return is computed as fo...

*flag*Report DMCA

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors