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you have 1000 to invest in an account and you need to have 1500 in one year what interest rate would you need to have in order to reach this goal if the amount is compounded quarterly round your answer to the nearest percent. Can someone help me please

you have 1000 to invest in an account and you need to have 1500 in one year what interest rate would you need to have in order to reach this goal if the amount class=

Respuesta :

gilbertazavedo72

Answer: 42.7%

Step-by-step explanation:

A = p (1+r/n)^nt

1500 = 1000 (1 + r/4)^4x1

r = 42.673

The  interest rate would you need to have in order to reach this goal if the amount is compounded quarterly is 42.7%

Given that,

  • you have 1000 to invest in an account and you need to have 1500 in one year

Based on the above information, the calculation is as follows:

[tex]A = p (1+r\div n)^{nt][/tex]

[tex]1500 = 1000 (1 + r\div4)^{4\times 1}[/tex]

So, r = 42.673

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