Question

2. An investment firm is offering you a vehicle to quintuple your money (i.e., earn five times the amount that you invest). I
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Ans 25.56 years

FV = Future Value
PV = Present Value
r = rate of interest
n= no of period
FV/ PV = (1 + r )^n
5 / 1 = (1 + 6.5%)^n
5 = (1 + 6.5%)^n
5 = 1.065^n
n = 25.56 years
Add a comment
Know the answer?
Add Answer to:
2. An investment firm is offering you a vehicle to quintuple your money (i.e., earn five...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT