Chandrika deposits $500 in an account paying an effective quarterly interest rate 2.01875%. Muhammad deposits $1,000 in an account paying an effective interest rate j4. After 23 years they have the same amount in their accounts. What is j4? O a. 1.30313% O b. 1.32819% O c. 1.37831% O d. 1.25301%

Chandrika deposits $500 in an account paying an effective quarterly interest rate 2.01875%. Muhammad deposits $1,000 in an account paying an effective interest rate j4. After 23 years they have the same amount in their accounts. What is j4? O a. 1.30313% O b. 1.32819% O c. 1.37831% O d. 1.25301%

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 8DQ: A Series EE U.S. government savings bond accrues 3.5% interest each year. The bond matures in three...

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Question

10) the math of interest. please indicate if you are unsure or totally sure about the answer

Chandrika deposits $500 in an account paying an effective quarterly interest rate 2.01875%. Muhammad deposits
$1,000 in an account paying an effective interest rate j4. After 23 years they have the same amount in their
accounts. What is j4?
a. 1.30313%
b. 1.32819%
O c.
1.37831%
O d. 1.25301%
e. 1.31566%
Certainty OC=1 (Unsure: <67%) OC=2 (Mid: >67%) OC=3 ( Quite sure: >80%)

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