A leading broker has advertised money multiplier certificates that will triple your money in nine years; that is, if you buy one for $333.33 today, it will pay you $1,000 at the end of nine years.
What rate of return will you earn on these money multiplier certificates?© BrainMass Inc. brainmass.com June 22, 2018, 5:00 pm ad1c9bdddf
The formula to calculate the rate is:
FV = PV*(1+r)^n
Now input the given ...
The solution computes rate of return you will earn on the money multiplier certificates.