A $100 investment yields $112.55 in one year.The interest on the investment was compounded quarterly.From this information,what was the stated rate or APR of the investment?

Name: A $100 investment yields $112.55 in one year.The interest on the investment was compounded quarterly.From this information,what was the stated rate or APR of the investment?
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Question

Quizplus · Accepted Answer

n= 4,r= ?,PV = -$100,PMT = 0,FV= $112.55
r=3%,APR = 4*3% = 12%

A $100 Investment Yields $112