How long will it take $400 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two decimal places. a. 5%. b. 10%. c. 16%. 100 year(s) year(s) year(s)

Q: An amount of $1200.00 earns $300.00 interest in four years, nine months. What is the effective…

A: Amount (PV) = $1200 Interest = $300 Final Amount (FV) = $1200 + $300 = $1500 Time (NPER) = 4 x 12 +…

Q: What's the present value of $1,025 discounted back 5 years if the appropriate interest rate is 6%,…

A: In a world where the value of money fluctuates over time, investors may use present value as a core…

Q: What is the nominal annual rate of interest compounded monthly at which ​$1663.00 will accumulate to…

A: Number of monthly periods = Number of years×12 =3.25×12=39 Monthly interest rate is calculated using…

Q: a-1. Calculate the present value of an annual payment of $870.00 you would received for 12 years if…

A: A series of payments made at equal intervals over a period is an annuity. The present value of…

Q: $100 is lent for 5 years amd repaid in a single payment at the end of the 5 years. Calculate the…

A: We are given Present value=100 Rate=7% number of years=5 We have to calculate future worth of that…

Q: Find the final amount of money in an account if $3,900$3,900 is deposited at 7.5%7.5% interest…

A: Calculations are done in excel, so there is no intermediate rounding. (1+i) = (1+i(2)2))^2(1+i) =…

Q: An investment of $837.00 earned interest quarterly. If the balance after 7 years was $1251.24, what…

A: Initial investment = $ 837Future value = $ 1251.24No of years = 7Number of quarters = 7*4= 28Find…

Q: Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.…

A: Present value is the discounted value of future value.  Present value compounded at a certain…

Q: What is the present value of $7,280 payable at the end of 9 years? Use a nominal rate (monthly…

A: Present value is a financial concept used to measure the present value of money in the future and to…

Q: what would be the value of a saving account started with 2800, earning

A: The estimated value of a financial asset or investment at a particular future date, accounting for…

Q: What sum of money will grow to $2960.91 in six years at 6.1% compounded semi-annually? The sum of…

A: Given: Future value = $2,960.91 Years = 6 Interest rate = 6.1% Compounding semi annually.

Q: Compute the interest. Round off your final answer up to 2 decimal places. 1. P27,000 at 6.5% simple…

A: Answer  1.    Principal = P27,000        Interest Rate = 6.5%        Year =  1 Simple Interest =…

Q: Calculate the present value. (Round your answer to two decimal places.) A = $49,000, r = 7.6%…

A: Given information: Amount is $49,000 Interest rate 7.6% compounded annually Number of years is 37

Q: Julia Henry deposited $19,300 in a money market certificate that provides interest of 10% compounded…

A: FV is an abbreviation used for future value where the amount that is deposited today will be found…

Q: At 7.24% interest, how long does it take (in years) to quadruple your money. Answer to two decimals.

A: The concept of TVM refers to the interest-earning capacity of money because money earned earlier is…

Q: investment, what nominal rate of interest, compounded semi-annually must you earn?

A: Information Provided: Principal = $26,000 Years = 13 Semiannual payments to be received = $1700

Q: he APY c ompounde PY is

A: APY means Annual Percentage Yield .  It tells us that if you invest some amount how much total…

Q: compounded continuously. Find the amount after 15 years. O a. P148,365.90 O b. P 152,754.20 Oc. P…

A: Future value of amount = A * ( ert - 1) / ( er - 1) where A = Amount invested =P 5,000 e =…

Q: What is the rate (in %) compounded semi-annually if 132511 accumulates to $398053 in 9 years and 3…

A: Given, Amount deposited 132511 Amount accumulated 398053 Term is 9 years and 3 months which is 9.25…

Q: Find the equated date at which the original payments are equivalent to the single payment. State…

A: The objective of the question is to find the time at which the original payments are equivalent to…

Q: If $15,500 is deposited in an account earning interest compounded continuously at 4.00% for 12…

A: Continously compounded interest rate:Continuously compounded interest rate represents a method of…

Q: Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.…

A: Present value=Future value /  [ 1 + (Interest rate x Number of years)]

Q: Suppose that your Home Owner's Association dues increase by 8% each year. Use the approximate…

A: Doubling time can be defined as a concept that determines the time required to double the investment…

Q: The value of $60 deposited in a bank for six years at a rate of 10% compounded annually is:

A: Future value = Present value(1 + Rate)^Time

Q: Mr. Maillet has contributed $138.00 at the end of each month into an RRSP paying 6% per annum…

A:

Q: What amount would you have if you deposited $2,100 a year for 40 years at 9 percent (compounded…

A: Annuity refers to the series of equal payments or receipts made at regular intervals for a…

Q: Complete the table to determine the balance A for P dollars invested at rater for t years,…

A: The future value refers to the amount or value after the continuous compounding of the amount with…

Q: How long will it take $400 to double if it earns the following rates? Compounding occurs once a…

A: ANNUAL COMPOUNDING INTEREST RATE   5.00% FUTURE VALUE (400*2) 800 PRESENT VALUE $400 PMT 0

Q: How long (in years) will it take to quadruple it earns 0.07 compounded semiannually? Note:…

A: Interest rate = 0.07 Future value factor = 4 Compounding =  semi annual

Q: Complete the table for an account in which interest is compounded continuously. (Round your answers…

A: This is a case of continuous compounding. We will have to convert the given rate to the EAR…

Q: If $19,000 is deposited in an account earning interest compounded weekly at 5.87% for 13 years, what…

A: Effective Rate of Interest: It is the annual rate on a loan or investment considering the effects…

Q: Using the rule of 72, calculate how quickly $10,000 will double to $20,000 at interest rates of 2…

A: At 2% interest rate: Number of periods = 72 / interest rate Number of periods = 72 / 2% Number of…

Q: Calculate the accumulated value of quarterly payments of $100.00 made at the end of each quarter for…

A: The future value of an ordinary annuity is a financial concept that calculates the total value of a…

Q: For the Years 1,2,3,4, and 5, the index numbers are 108, 112, 116, 124, and 131 respectively. Based…

A: Index for Year 1 rebased on year 3 = Index of Year 1 / Index of Year 3 * 100

Q: Determine how much is in each account on the basis of the indicated compounding after the specified…

A: Given, P is $5000 r is 3.1%

Q: If for the next 30 years you place $2,000 in equal year-end-deposits into an account earning 5% per…

A: Future Value of Ordinary Annuity refers to the concept which gives out the compounded or future…

Q: The 5-year spot rate is 10.5% and the 4-year spot rate is 8.8% What is the 1-year forward rate, 4…

A: Solution:- Forward rate means the rate decided today for a future date.

Q: Find the amount at the end of 4 years and 5 months if P7,000 is invested at 23% compounded…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: How long will it take for $480 to grow to 1,800 at the following interest rate? (Do ot round…

A: Given information : Present amount $480 Future value $1,800 Interest rate 1 4.80% Interest…