Solution Found!
Find the APR of a bond that doubles its value in 12 years. Round your answer to the
Chapter 10, Problem 27(choose chapter or problem)
QUESTION:
Find the APR of a bond that doubles its value in 12 years. Round your answer to the nearest hundredth of a percent.
Questions & Answers
QUESTION:
Find the APR of a bond that doubles its value in 12 years. Round your answer to the nearest hundredth of a percent.
ANSWER:Step 1 of 3
We have given that
We let as to generalize all possible value and we let as because we need to show that is twice the value of .