What investment rate would an investment need for it to grow from $2500 to approximately $4000, if you can leave the investment for 8 years? a) 7% b) 6% c) 8% d) 5%

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
icon
Related questions
Topic Video
Question

Pls help

What investment rate would an investment need for it to grow from $2500 to
approximately $4000, if you can leave the investment for 8 years?
a) 7%
b) 6%
c) 8%
d) 5%
Transcribed Image Text:What investment rate would an investment need for it to grow from $2500 to approximately $4000, if you can leave the investment for 8 years? a) 7% b) 6% c) 8% d) 5%
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Algebraic Operations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage