How long would it take $1,000 to double if it was invested in a bank that paid 6% peryear? How long would it take if the rate was 10%? (11.9 years, 7.27 years)
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Q: How long would it take $1,000 to double if it were invested in a bank that pays 6% per year?
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How long would it take $1,000 to double if it was invested in a bank that paid 6% per
year? How long would it take if the rate was 10%? (11.9 years, 7.27 years)
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- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?How long would it take $1,000 to double if it were invested in a bank that pays 6% per year?How many years would it take $50 to triple if it were invested in a bank that pays 3.8% per year?
- Solve the following problem. If P100,000.00 is invested in a bank at 4.5% simple interest annually, how much interest will the investor get after 5 years? areHow long it would take tk 150000 to double if it was invested in a bank at 6.5% interest rate?If you have $60,000 in a bank account that is paying an interest rate of 4 percent that is being compounded annually, how many years will it take to double your investment if the interest rate stays the same?
- You have an investment account that started with $2,000 10 years ago and which now has grown to $8,000. a. What annual rate of return have you earned (you have made no additional contributions to the account)? b. If the savings bond earns 13% per year from now on, what will the account's value be 10 years from now?You have an investment account that started with $3,000 10 years ago and which now has grown to $8,000. a. What annual rate of return have you earned (you have made no additional contributions to the account)? b. If the savings bond earns 16% per year from now on, what will the account's value be 10 years from now?How much money will you have after 4 years if you deposited P10,000.00 in a bank that pays 6% simple interest? 4. 5. How long will an amount of money triple at a simple interest rate of 1% per annum?
- if you place $1100 today into an account that pays simple interest and you have $6100 dollars in the account 5 years from now. determine the annual simple interest rate. what would be the total value if the investment had of been left in the bank for 8 more years?Suppose you put $1000 in an account today and you need to have $6727.5 in the future. If the bank pays 10%, how many years (n) will it take you to have $6727.5?suppose you have 100 dollars in a saving account and the bank adds 10 percent per year to the account. how much money would you have in the account after 5 years if you did not remove any money from the account? a. more than 150 b. exactly 150 c. less than 150