Homework Answers
1: 9.1457
Using financial calculator
Input:
PV=-1000
Fv= 3450
I/Y=14.5
Solve for N as 9.1457
2: 9.4649
Using financial calculator
Input:
I/Y=14.5, PV=-1000, N=9
Solve for FV as $3,382.59
Difference = 3450-3382.59 = 67.41
Using Simple interest formula: Interest = P*N*R
67.41= 1000*14.15%*N
N= 0.4649
Add Answer to:
How many years does it take for a deposit of $1000 to reach $3450 with an...
For problem #1 I used the formula FV=PV(I+i)^n where I solved for n to get 8.2097....
For problem #1 I used the formula FV=PV(I+i)^n where I solved
for n to get 8.2097. Im unsure of how to solve question #2. Help
ASAP would be very appreciated. Thank you.
Problem #1: How many years does it take for a deposit of $1000 to reach $3150 with an annual effective interest rate of 15%? Problem #1: 8.2097 Answer correct to 4 decimals Just Save Your work has been saved! (Back to Admin Page) Submit Problem #1 for Grading...
How many years would it take for a debt of $11202 to grow into $13867 if...
How many years would it take for a debt of $11202 to grow into $13867 if the annual interest rate is 3.3% with daily compounding? Round your answer to the nearest tenth of a year.
Question 7 How many years will it take for a uniform annual deposit of size A...
Question 7 How many years will it take for a uniform annual deposit of size A to accumulate to 10 times the size of a single deposit at a rate of return of 10% per year?
4. If you deposit money today in an account that pays 2.5% annual interest, how long...
4. If you deposit money today in an account that pays 2.5% annual interest, how long will it take to double your money? Steps (9 points): Answer (1 point): 5. You have $100,000 in a brokerage account, and you plan to deposit an additional $7,500 at the end of every future year until your account totals $1,000,000. You expect to earn 10% annually on the account How many years will it take to reach your goal? Steps (9 points): Answer...
(3) How many years would it take for you to double your initial deposit? The interest...
(3) How many years would it take for you to double your initial deposit? The interest rate is 4%/ year, compounded annually. You make a deposit only once in the beginning. You may round the final answer to the nearest hundredth. For example, just write down 3.41 years if the true answer were 3.4123. (Hint: Let SC denote the initial deposit. Then, the future value will be $2C someday. Find how many years you should wait until such day comes...
Module 4 Hand- in Assignment a. 1. You deposit $1000 into a bank account that pays...
Module 4 Hand- in Assignment a. 1. You deposit $1000 into a bank account that pays 10% simple. How much interest would you earn if: You left the money in for 6 years. b. You left the money in for 9 months. c. Your deposit was on April 6 and you withdrew the money on December 23 the same year d. You made a deposit October 28, and withdrew the money September 21, the next year. 2. 18 months ago...
1)How much money do you need to deposit into an account annually if you desire to...
1)How much money do you need to deposit into an account annually if you desire to have $9 million in 45 years. Assume a 4% annual interest rate, compounded annually. Your first deposit will occur at the end of the first year. 2) Your machine operator is becoming more productive and generates additional profit each year. You expect to receive $39,000 in profit at the end of the year, but this will increase by 8% a year for the next...
1.)You make a deposit of $46 each year for 40 years in an account that earns...
1.)You make a deposit of $46 each year for 40 years in an account that earns a simple interest rate of 6% per year. If you make the first deposit today, the future value of the deposits in 90 years will be:$___________ 2.)How will you enter 10% in a computational formula (not in a financial calculator)? 3.)At what rate of interest will an amount triple in 50 years? Enter your answer as decimals, not percentages (e.g., enter 0.01 instead of...
Present value What is the present value of a security that will pay $20,000 in 20...
Present value What is the present value of a security that will pay $20,000 in 20 years if securities of equal risk pay 12% annually? Round your answer to the nearest cent. Time for a lump sum to double How long will it take $500 to double if it earns the following rates? Compounding occurs once a year. Round each answer to two decimal places. a. 3% year(s) b. 9% year(s) c. 21%. year(s) d. 100%. year(s) Time for a...
answer questions B-D (b) How many hours does it take for the drug to reach its...
answer questions B-D
(b) How many hours does it take for the drug to reach its peak concentration? What is the concentration at that time? Round your answer for the concentration to one decimal place. The concentration reaches its peak after hours and the concentration is ng/ml. LINK TO TEXT (c) If the minimum effective concentration is 11 ng/ml, during what time period is the drug effective? Round your answers to the nearest hour. The drug is effective for hours....
For problem #1 I used the formula FV=PV(I+i)^n where I solved
for n to get 8.2097. Im unsure of how to solve question #2. Help
ASAP would be very appreciated. Thank you.
Problem #1: How many years does it take for a deposit of $1000 to reach $3150 with an annual effective interest rate of 15%? Problem #1: 8.2097 Answer correct to 4 decimals Just Save Your work has been saved! (Back to Admin Page) Submit Problem #1 for Grading...
How many years would it take for a debt of $11202 to grow into $13867 if the annual interest rate is 3.3% with daily compounding? Round your answer to the nearest tenth of a year.
Question 7 How many years will it take for a uniform annual deposit of size A to accumulate to 10 times the size of a single deposit at a rate of return of 10% per year?
4. If you deposit money today in an account that pays 2.5% annual interest, how long will it take to double your money? Steps (9 points): Answer (1 point): 5. You have $100,000 in a brokerage account, and you plan to deposit an additional $7,500 at the end of every future year until your account totals $1,000,000. You expect to earn 10% annually on the account How many years will it take to reach your goal? Steps (9 points): Answer...
(3) How many years would it take for you to double your initial deposit? The interest rate is 4%/ year, compounded annually. You make a deposit only once in the beginning. You may round the final answer to the nearest hundredth. For example, just write down 3.41 years if the true answer were 3.4123. (Hint: Let SC denote the initial deposit. Then, the future value will be $2C someday. Find how many years you should wait until such day comes...
Module 4 Hand- in Assignment a. 1. You deposit $1000 into a bank account that pays 10% simple. How much interest would you earn if: You left the money in for 6 years. b. You left the money in for 9 months. c. Your deposit was on April 6 and you withdrew the money on December 23 the same year d. You made a deposit October 28, and withdrew the money September 21, the next year. 2. 18 months ago...
Present value What is the present value of a security that will pay $20,000 in 20 years if securities of equal risk pay 12% annually? Round your answer to the nearest cent. Time for a lump sum to double How long will it take $500 to double if it earns the following rates? Compounding occurs once a year. Round each answer to two decimal places. a. 3% year(s) b. 9% year(s) c. 21%. year(s) d. 100%. year(s) Time for a...
answer questions B-D
(b) How many hours does it take for the drug to reach its peak concentration? What is the concentration at that time? Round your answer for the concentration to one decimal place. The concentration reaches its peak after hours and the concentration is ng/ml. LINK TO TEXT (c) If the minimum effective concentration is 11 ng/ml, during what time period is the drug effective? Round your answers to the nearest hour. The drug is effective for hours....
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