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An investor invests $100 in a certificate, which compounds semi-annually, for a time period of one year. If he wants to quadruple his money in one year, what interest rate would…

An investor invests $100 in a certificate, which compounds semi-annually, for a time period of one year. If he wants to quadruple his money in one year, what interest rate would…
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An investor invests $100 in a certificate, which compounds semi-annually, for a time period of one year. If he wants to quadruple his money in one year, what interest rate would be needed?

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User AzFlin
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7.5k points

1 Answer

5 votes
4p=p(1+i/2)^2
4=(1+i/2)^2 solve for I
Hope it helps
answered
User Mapleleaf
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7.9k points
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