Mathematics, 06.07.2021 01:30 brainy51
Assume that $4,000 I deposited into an investment account doubled in value over a six year period. What annual interest rate must I have earned over this period? Is the initial amount of the deposit relevant to the calculation of the annual interest rate? Why or why not?
Answers: 2
![4000(1+i)^6=8000\\(1+i)^6=2\\1+i=\sqrt[6]{2} \\1+i=1.122462048\\i=.12246](/tpl/images/1389/5051/70797.png)
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Assume that $4,000 I deposited into an investment account doubled in value over a six year period. W...
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