JayByrnexo
New member
- Joined
- Dec 1, 2015
- Messages
- 2
Hello, I am new to this site so, again, hello everyone.
So I would just like some help with a question which has been bothering me.
I never came across a similar problem hence why I fail to complete it.. I have completed part (i) so I want to know (ii) but I can't wrap my head around it for some reason.
(i) A sum of €4500 is invested with an AER of 5%. Find the value of the investment in 6 years time.
(ii) A different investment account gives a lump sum of 20% interest after six years. Calculate the AER for this bond, to 2 decimal places.
I appreciate any help that is given. I am just a bit lost when it comes to this problem.
So I would just like some help with a question which has been bothering me.
I never came across a similar problem hence why I fail to complete it.. I have completed part (i) so I want to know (ii) but I can't wrap my head around it for some reason.
(i) A sum of €4500 is invested with an AER of 5%. Find the value of the investment in 6 years time.
(ii) A different investment account gives a lump sum of 20% interest after six years. Calculate the AER for this bond, to 2 decimal places.
I appreciate any help that is given. I am just a bit lost when it comes to this problem.