Using the rule of 70, about how much would $100 be worth after 50 years if...

Question

Question

Answer 1

Answer #1

Rule of 70 tells us how much time will it take to double an inveatment.

Doubling period=70/ interest rate= 70/7= 10 years.

In 10 years $200

In 20 years $400

In 30 years $800

In 40 years $1600

In 50 years $3200

So answer=$3200

Answer 2

Similar Homework Help Questions

Use the rule of 70 to understand how much the price level changes in 100 years...

Use the rule of 70 to understand how much the price level changes in 100 years with a 3% rate of inflation What is a market basket of goods and services and how is it used to calculate the Consumer Price Index?
How much would $10,000 due in 50 years be worth today if the discount rate were...

How much would $10,000 due in 50 years be worth today if the discount rate were 7.5%? a $285.02 b. $266.20 c. S204.36 d. $217.80 e $268.89
LLLLLLLL How much would $20,000 expected in 50 years be worth today if the discount rate...

LLLLLLLL How much would $20,000 expected in 50 years be worth today if the discount rate were 7.5%? You must show work to get full credit. a. $438.03 b. $461.08 c. $485.35 d. $510.89 e. $537.78

needing help day if the 7 years after depositing 100 20 How much would be in...

needing help day if the 7 years after depositing 100 20 How much would be in your wavings pays 5 percent interest per year? A) 5735.00 B) SI35.00 C) 140.71 D) 5814.20 2) A deposit or 5500 earns the following interest rates 5 percent in the first year Opercent in the second year, and percent in the third year. What would be the third year future Value A) 5527.14 B) 5595.00 C) S1595.00 D) 5601.02 20 What is the present...
How much is a $10,000 investment in stock worth after 20 years if its value increases...

How much is a $10,000 investment in stock worth after 20 years if its value increases at an interest rate of 10% per year? Your Answer:
How much will $20,000 invested today at 3 percent interest be worth in 5 years if...

How much will $20,000 invested today at 3 percent interest be worth in 5 years if it is compounded annually? How much will it be worth in 5 years if compounded monthly? Value Today- Rate- Number of years- Months per year- Compounding periods- Rate per quarter- Annual FV- Monthly FV-

Using the Rule of 72, approximately how many years are needed to double a $100 investment...

Using the Rule of 72, approximately how many years are needed to double a $100 investment when interest rates are 7.50 percent per year? (Round your answer to 2 decimal places.)
1. What is the formula to calculate how much a savings account would be worth if...

1. What is the formula to calculate how much a savings account would be worth if the initial balance is $1000 with monthly deposits of $75 for 10 years at 4.3 percent annual interest compounded monthly? What is the formula result? 2. You want a savings account to grow from $1,000 to $5,000 within two years. Assume the bank provides a 3.2 percent annual interest rate compounded monthly. What is the formula to calculate how much you must deposit each month...
1. How much would be in your savings account in 7 years after depositing S100 today...

1. How much would be in your savings account in 7 years after depositing S100 today if the bank pays 5 percent interest per year? A. $135.00 B. $140.71 C. $735.00 D. $814.20 2. What is the present value of a $500 payment made in 4 years when the discount rate is 8 percent? A. S365.35 B. S367.51 C. $460.00 D. $680.24 3. What annual rate of return is earned on a $5,000 investment when it grows to $7,000 in...

Using the rule of 72, find approximately how many years it takes for $100 to become...

Using the rule of 72, find approximately how many years it takes for $100 to become $200 at an annual interest rate of 4%. Select one: O a. 6 O b. 18 O O c. 12 d. 24 Check