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Calculate the value of a $50,000 investment currently held in an investment fund that earns a...

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Finance

Calculate the value of a $50,000 investment currently held in aninvestment fund that earns a nominal rate of 8% annually,compounded weekly, for 10 years.  What is the effectiveinterest rate?

Answer & Explanation Solved by verified expert
4.4 Ratings (666 Votes)
Information provided Present value 50000 Time 10 years52 520 weeks Interest rate 852 01538 per week The question is solved by computing    See Answer
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