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An investment offers to triple your money in 22 months. What rate (in percent) per three...

An investment offers to triple your money in 22 months. What rate (in percent) per three months are you being offered? Answer to two decimals.

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Answer #1

Hence, rate for 3 months is 15.36% (5.12%*3)

or

16.16%[(1+5.12%)^3-1]

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