Diamonds. The effective rate of interest earned by an investment is given by the formula
Chapter 9, Problem 9.5.108(choose chapter or problem)
Diamonds. The effective rate of interest earned by an investment is given by the formula r 3 P n AP 1 where P is the initial investment that grows to value after years. If a diamond buyer got $4,000 for a 1.73-carat diamond that he had purchased 4 years earlier, and earned an annual rate of return of 6.5% on the investment, what did he originally pay for the diamond?
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