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Question refer to the following information.

The formula above indicates the initial investment, I, that must be made in an account with an annual interest rate of r to ensure a future value of FV after a period of n years. 
What value of r, to the nearest thousandth, would ensure that the value of an investment would increase by 69% in 2 years?
    Correct answer is '0.3'. Can you explain this answer?
    Verified Answer
    Question refer to the following information.The formula above indicate...
    If the value of the investment increases by 69% in 2 years, this means that FV = 1.691 when n = 2. Substituting into the formula gives 
    Divide by I: 
    Cross-multiply: (1 + r)2 = 1.69
    Take the square root: 1 + r = 1.3
    Subtract 1: r = 1.3 - 1 = 0.3
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    Question refer to the following information.The formula above indicates the initial investment, I, that must be made in an account with an annual interest rate of r to ensure a future value of FV after a period of n years.What value of r, to the nearest thousandth, would ensure that the value of an investment would increase by 69% in 2 years?Correct answer is '0.3'. Can you explain this answer?
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    Question refer to the following information.The formula above indicates the initial investment, I, that must be made in an account with an annual interest rate of r to ensure a future value of FV after a period of n years.What value of r, to the nearest thousandth, would ensure that the value of an investment would increase by 69% in 2 years?Correct answer is '0.3'. Can you explain this answer? for SAT 2025 is part of SAT preparation. The Question and answers have been prepared according to the SAT exam syllabus. Information about Question refer to the following information.The formula above indicates the initial investment, I, that must be made in an account with an annual interest rate of r to ensure a future value of FV after a period of n years.What value of r, to the nearest thousandth, would ensure that the value of an investment would increase by 69% in 2 years?Correct answer is '0.3'. Can you explain this answer? covers all topics & solutions for SAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Question refer to the following information.The formula above indicates the initial investment, I, that must be made in an account with an annual interest rate of r to ensure a future value of FV after a period of n years.What value of r, to the nearest thousandth, would ensure that the value of an investment would increase by 69% in 2 years?Correct answer is '0.3'. Can you explain this answer?.
    Solutions for Question refer to the following information.The formula above indicates the initial investment, I, that must be made in an account with an annual interest rate of r to ensure a future value of FV after a period of n years.What value of r, to the nearest thousandth, would ensure that the value of an investment would increase by 69% in 2 years?Correct answer is '0.3'. Can you explain this answer? in English & in Hindi are available as part of our courses for SAT. Download more important topics, notes, lectures and mock test series for SAT Exam by signing up for free.
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