Homework Answers
The "Rule of 72" in finance is a simple way to determine how long an investment will take to double, given a fixed annual rate of interest. By dividing 72 by the annual rate of Interest, investors can get a rough idea of how many years it will take for the investment to double.
So here; Investment is $ 100 and annual Interest rate is 8%.
So, according to Rule 72, it will take 72/8 i.e. 9 years to double $ 100.
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needing help day if the 7 years after depositing 100 20 How much would be in...
needing help
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A.
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Finance Accounting
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Submit y how many years are needed to double a $100 investment when interest rates are 6.75 percent per year? (Round your answer to 2 declmal
J Approximately what interest rate is needed to double an investment over six years? A) 17 percent B) 100 percentC) 12 percent D) 6 percent 9) Determine the in Determine the interest rate earned on a $1,500 deposit when $1,680 is paid back in one year. 9) A) 0.89 percent C) 89.00 percent B) 12.00 percent D) 1.12 percent 10) Consider a $1.000 deposit earning 7 percent interest per year for four years. How much total interest is earned on...
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...
A.
B.
How many years are required for an investment to double in value if it is appreciating at the rate of 8% compounded continuously? At 8% compounded continuously, the investment doubles in (Round to one decimal place as needed.) years. At what nominal rate compounded continuously must money be invested to double in 6 years? A rate of | % is required for money to double in 6 years. (Do not round until the final answer. Then round to...
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