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2. What was the interest rate if your balance on an investment of $1,541 at the end of three years is $2,197.10 and the interest was compounded quarterly?

2. What was the interest rate if your balance on an investment of $1,541 at the end of three years is $2,197.10 and the interest was compounded quarterly?
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1 vote
2. What was the interest rate if your balance on an investment of $1,541 at the end of three years is

$2,197.10 and the interest was compounded quarterly?

asked
User Mario Visic
by
8.0k points

1 Answer

7 votes

Answer:

final value:18,678,514.94

interest:18,676,973.94

answered
User Tholy
by
8.6k points
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