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    one year ago, you invested $1,800. today it is worth $1,924.62. what rate of interest did you earn?

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    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn? » MCQ Academy English

    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn?Answer:6.92 percent . ...

    English বাংলা Corporate Finance

    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn?

    6.59 percent 6.67 percent 6.88 percent 6.92 percent

    Note

    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn?Answer:6.92 percent .

    Tags: The Time Value of Money

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    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn?

    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn? One year ago, you invested $1,800. Today it is worth $1,924.62. The rate of interest is 6.923%.

    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn?

    Solution:

    Invested amount or the present value = $1,800

    Future value = $1,924.62

    Number of years (n)= 1

    Rate of interest = ?

    The annual compound interest can be found using the formula

    rate = [Future value/Present Value]1/n -1

    Substituting the known values in the compound interest formula we get

    rate = [1924.62/1800] -1

    By further calculation

    rate = 6.923%

    Therefore, the rate of interest is 6.923%

    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn?

    Summary:

    One year ago, you invested $1,800. Today it is worth $1,924.62. The rate of interest is 6.923%.

    Source : www.cuemath.com

    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn?

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    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn?

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    Question:

    One year ago, you invested $1,800. Today it is worth $1,924.62. What rate of interest did you earn?

    Earnings:

    Companies promote their businesses and invest in potential investments to increase their earnings and customers' reach. Managers consider the expected earning and probability of return before investing in a project.

    Answer and Explanation:

    Calculation of the interest rate:

    Interest Rate = ( Years √ Investment Wort h 1 Year Deposit − 1 ) × 100 % = ( 1 √ $ 1 , 924.62 $ 1 , 800 − 1 ) × 100 % = ( $ 1 , 924.62 $ 1 , 800 − 1 ) × 100 % = ( 1.069233333 − 1 ) × 100 % = 6.923 %

    Interest Rate=(Investment Worth1 YearDepositYears−1)×100%=($1,924.62$1,8001−1)×100%=($1,924.62$1,800−1)×100%=(1.069233333−1)×100%=6.923%

    The interest rate is 6.923%.

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    Learn more about this topic:

    Nominal Interest Rate: Definition & Equation

    from

    Chapter 22 / Lesson 39

    12K

    Discover what the nominal interest rate in finance is, its importance, and its uses. Learn its formula and see how to calculate it through given examples.

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