Asked by Jocelyn Calderon on May 08, 2024
Verified
How long will it take for money to tripe at a rate of 4.5% compounded quarterly?
Compounded Quarterly
An interest calculation method where interest is added to the principal sum of a deposit or loan every quarter, so that each subsequent interest calculation is made on the principal plus previously added interest.
- Determine and evaluate the prospective values of investments subjected to different compounding interest intervals.
Verified Answer
XL
Learning Objectives
- Determine and evaluate the prospective values of investments subjected to different compounding interest intervals.
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