An investment offers to quadruple your money in 24 months (don’t believe it). What rate per three months are you being offered?

An investment offers to quadruple your money in 24 months (don’t believe it). What rate per three months are you being offered?

SOLUTION:Future Value = Present Value * (1 + Rate)^nLet the present value be x.Future Valuen (Time) 4×8.00 4x = x (1 + Rate) ^ 84 = (1 + Rate) ^ 81 + Rate = (4) ^ (1/8)1 + RateRate…