Question- *** An investment offers to quadruple your money in


Question Description:

25

Question- *** An investment offers to quadruple your money in 24 months. Required: What rate per three months are you being offered? (Do not include the percent sign (%). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) please show all work so I fully understand how to solve this problem.. I worked through the problem a couple time myself but am not getting the correct answer. I need this question answer ASAP. it is due tonight and coursehero is my last resort. – this is my work- N= 24 months (24/3=8) because of the 3 months. PV= -1 FV=4 I/Y= ? (i got 18.92/4=4.73%) annually–> quarters? – the answer is also not 8.3333/months= 25% – this is not the correct answer- please let me know what im doing wrong asap. thanks.

Answer

25