Question:
(a) (20 pts) If it takes 9 years for a one-time deposit in a savings account that receives interest compounded quarterly to triple, then what is the interest rate to the nearest tenth of a percent?
To answer this question, you may want to utilize the following relationship:
If ln(x) = N, where N is some number, then x = eN
(if using logarithms to the base 10, then equivalently,
If log(x) = N, then x = 10N )
(b) (6 pts) check your result in part a using the standard formula for computing compounded interest, assuming the initial deposit is $10,000
(c) (7 pts.) What is the APY of 7% interest compounded quarterly?

If you have your own answer to the question compound interest rate homework, then you can write your own version, using the form below for an extended answer.
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