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math

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what is the rate compounded every 3 months that will make $4770 become $8233 in 3 years ?

  • math -

    4770(1+r/4)^(4*3) = 8233
    (1+r/4)^12 = 1.726
    1+r/4 = 1.0465
    r/4 = .0465
    r = .186 = 18.6%

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