Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you invested $7,000 at the end of each half-year f

You invested $7,000 at the end of each half-year for 7 years in an investment...

90.2K

Verified Solution

Question

Finance

You invested $7,000 at the end of each half-year for 7 years in an investment fund. If the balance in the fund at the end of 7 years was $109,000, what was the nominal interest rate compounded semi-annually?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Show that (?A)^† = ?*A^† and (A + B)^† = A^† + B^† for all ?...

Advance Math
Q

In the circuit shown 1 and 2 are two ideal sources of unknown emfs Some...

Physics
Q

3 Amazing Diagram Find the area of ACDE A D a 0 C E H...

Geometry
Q

The lengths of the sides of a triangle are given Classify each triangle as acute...

Geometry
Q

5 Determine the nature of roots a 2x 8x 14 6 c 8n 7n 16...

Basic Math
Q

Find the flux of outward across the curve 9x 4y 36 in the xy plane...

Calculus
Q

A 62-year-old widow is experiencing difficulty paying her bills. Her homestead is paid for, but...

Algebra
Q

Tarrant Inc. owns 80% of Rockwall Corporation, and Rockwall owns 80% of Kaufman Company. During...

Accounting
Q

You will be creating and entering formulas to complete four worksheets . The first objective...

Accounting
Q

Required information [The following information applies to the questions displayed below.] Watercraft's...

Accounting
Q

Which of the flowing statements aboru the original us comstitution, the bill of rights, and...

Finance
Q

A firms common stock currently sells at $42 per share. The company anticipate a constant...

Finance