Question

annual compound interest rates are 13% in 1994 ,11% 1995 and 15% 1996.Find the effective rate of compound interest per year which yields an equivalent return over the three year period

Answer 1

Answer: To answer this you'll want to find the average between 1995 and 1997

3010-2470=540

Then we'll divide by 2 since it is over the course of two years. 540/2=270

Step-by-step explanation: