Homework Help: college

Posted by G on Thursday, July 15, 2010 at 11:50pm.

15.Pedro Martinez wants to invest $25,000 in a spa that his sister is starting. He will triple his investment in six years. What is the rate of return that Pedro is being promised

college - Reiny, Thursday, July 15, 2010 at 11:55pm
solve for i

1(1+i)^6 = 3

i got i = .4422

so 44.22% ??? wow!

Answer this Question

Related Questions

math - You are in business and you are given two opportunities. The first you ...
Algebra 2 - A man is planning to invest up to $22,000in bank X or bank Y or both...
Finance - Professor Anderson has a daughter who is 3 years old. In 15 years she ...
Finance - Professor Anderson has a daughter who is 3 years old. In 15 years she ...
Pre-Calculus - . Margaret is planning to invest up to $22,000 in ...
grammer - To make this a pronoun case the orginal sentence is Pedro Martinez ...
Math - 1. Jacksonville Technical College received $3,445,553 in state aid on ...
Algebra - A grandmother is looking for a plan to finance her new grandchild’...
college algebra - A grandmother is looking for a plan to finance her new ...
Math - . Jacksonville Technical College received $3,445,553 in state aid on ...

For Further Reading

First Name:
School Subject:
Answer: