How long it will take $12,000 to be $ 24,000 at 9% rate of interest? a....
1) How long will it take for $12,000 to become $24,000, if it is in an account paying 3% every six months? 2) A department store charges its customers 1.75% per month for their credit purchases. What nominal interest rate are customers charged? What is the effective rate? 3) You deposit $2,000 in a bank that pays 3% compounded continuously. How much are you going to have at the end of 4 years? 4) A car can be purchased with...
How long will it take for 2.400 to grow to 38.700 at an interest rate of 4.9% if the interest is compounded continuously? Round the number of years to the nearest hundredth.
(a) How long will it take an investment to double in value of the Interest rate is 6% compounded continuously? (Round your answer to one decimal place.) 11.6 years (b) What if the interest is compounded annually? (Round your answer to one decimal place.) x years
At a growth (interest) rate of 7 percent annually, how long will it take for a sum to double? To triple? Use Appendix A for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Time needed to double years Time needed to triple years
At a simple interest rate of 10% per year, determine how long will it take $10,000 to increase to 4 times as much. Compare the time it will take to double if the rate is 20% per year simple interest. At an interest rate of 10%, it will take_____ years for the amount to increase 4 times as much.It will take______ years for the amount to double at an interest rate of 20%.
a. If the interest rate is 7.0% per year, approximately how long will it take for your money to quadruple in value? (Use the Rule of 72.) b. If the inflation rate is 4.5% per year, what will be the change in the purchasing power of your money over this period? (Use the Rule of 72 to compute the number of years. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
At an annual interest rate of 10% how many years will it take for $300 to double in value? (show work) I am getting paid $600 today. What is the future value of $600 in 15 years if current interest rates are 5%? I will receive $24,000 in 12 years. What is the present value of the $24,000 if current interest rates are 6%? I'm trying to learn the equations so if you could how you got your answers, that...
How long will it take to earn $252 in interest if $1200 is invested at a 7% annual interest rate??
How long does it take for $856 to grow into $1,712 at an annual interest rate of 5%?
If the interest rate is 3% compounded annually, how long will it take to earn $100 interest on an initial deposit of $300? [Hint1: interest = FV - PV. Hint2: logarithmic manipulation is very useful while solving for an exponent]