Question

Ashley invested an amount of $12,000 in a mutual fund. After 4 years and 6 months the accumulated value of his investment was $13,039.26. What is the quarterly compounded nominal interest rate of the investment?

Name: Ashley invested an amount of 12,000 in a mutual fund. After 4 years and 6 months the accumulated value of his investment was13,039.26. What is the quarterly compounded nominal interest rate of the investment?
Uploaded: 2023-10-08T00:28:27-08:00
Duration: 1 min 30 s
Channel: Breanna Ollech
Description: Ashley invested an amount of 12,000 in a mutual fund. After 4 years and 6 months the accumulated value of his investment was13,039.26. What is the quarterly compounded nominal interest rate of the investment?

          Ashley invested an amount of $12,000 in a mutual fund. After 4 years and 6 months the accumulated value of his investment was $13,039.26. What is the quarterly compounded nominal interest rate of the investment?

Ashley invested an amount of 12,000 in a mutual fund. After 4 years and 6 months the accumulated value of his investment was13,039.26. What is the quarterly compounded nominal interest rate of the investment?

Added by Kimberly H.

Calculus: Early Transcendentals

James Stewart 8th Edition

Instant Answer

Solved by Expert Breanna Ollech

10/08/2023

Step 1

4 years = 4 * 12 = 48 months 48 months + 6 months = 54 months 54 months / 3 months (1 quarter) = 18 quarters Show more…

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Ashley invested an amount of $12,000 in a mutual fund. After 4 years and 6 months the accumulated value of his investment was $13,039.26. What is the quarterly compounded nominal interest rate of the investment? % Round to two decimal places Ashley invested an amount of $12,0o0 in a mutual fund. After 4 years and 6 months the accumulated value of his investment was $13,039.26.What is the quarterly compounded nominal interest rate of the investment? 0.00% Round to two decimal places