How long will it take $500 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two decimal places. a. 4%. b. 11%. c. 20%. d. 100%. year(s) 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: Question 2: Suppose that 600 amounted (P) to 700 (S) in a saving account after, a) Calculate the…

A: Present value (PV) is the amount that is invested today in order to earn desired amount at some…

Q: Solve by using compound table: (Round your answer to the nearest cent.) Principal Rate Time $ 15,000…

A: If you have any problem let me know in comment box.

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: Determine m, n, and i for money earning 4.67% compounded quarterly for 5 years and 6 months. ma…

A: The worth of an investment or asset on a certain date in the future is referred to as its "future…

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: Amount $70,000 a. Calculate P 1 + A = b. Calculate B= A c. Let R= B Time Rate 2% 30 years n r P ( ₁…

A: The time value of money concept is used to determine the amount of money that will be received in…

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 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: How much interest (in dollars) is earned in 9 years on $8,500 deposited in an account paying 5%…

A: Future value (FV) refers to the amount of money that an investment will be worth at a future point…

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: For a sum of money to double itself in 10 years, what must be the rate of interest compounded…

A: The amount of money invested over a period of time with the assumption of investment growth at a…

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: Assume an individual is wanting to determine the monthly deposits if after 1 year based on monthly…

A: Future Value = 12,336.42 6% Continuous Compounding

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: 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: Find the sum of money that accumulates to $1338.98 at 7.9% compounded quarterly in two years, ten…

A: According to the concept of present value, the amounts of money today are worth more than equivalent…

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 final amount of money in an account if $1,400 is deposited at 2% interest compounded weekly…

A: The concept of the time value of money states that money if invested earns interest and if left idle…

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: Calculate the annual effective rate equivalent to a nominal rate of 8.84% compounded quarterly.…

A: Given: Nominal rate for quarterly compounding = 8.84% Annual effective rate = (1 + rq/ n)n -1 where…

Q: Suppose $7000 is deposited in an account that pays 6% per year compounded semi-annually. Find (a)…

A: Compound interest is the interest calculated on the principal and the interest accumulated over the…

Q: You deposit $200 in an account earning 7% compound interest for 6 years. Find the future value and…

A: Future value refers to the projected monetary worth of an investment or asset at a specified date in…

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

A:

Q: How much interest (in dollars) is earned in 7 years on $8,800 deposited in an account paying 7%…

A: To solve this problem, we can use the formula for compound interest: A = P(1 + r/n)^(nt) where: A…

Q: Help Desiree Yeung compute the rate of interest at which $30 paid at the beginning of every three…

A: The future value of an annuity is the total value of a series of equal periodic payments at a…

Q: What is the value today of receiving $2,674.59 per year forever? Assume the first payment is made…

A: Present value refers to the current value of an asset that will be present at some future date which…

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: Problem 1. Answer the following questions on recurrence relations. a) A person deposits $5000 in an…

A: A recurrence relation is an equation that defines a sequence based on a rule that gives the next…

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: (Refer to this word problem Samuel wishes to have P500,000 available for his son's college…

A:

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: Find the future value of and the compound interest on $100 invested at 4.7% compounded semi-annually…

A: Formula to be used: FV=PV * (1+rn)n*t where FV= Future value or accumulated value PV= Present value…

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: In how many months will $1652 grow to $2276 at 5.8% p.a.? Round to one decimal. Answer:

A: The concept of TVM refers to the interest-earning capacity of money that shows that the amount…

Q: $ 143 is placed in an account that earns a nominal 8 percent interest, compounded quarterly.…

A: Initial Deposit (IV) = $143 Interest rate = 0.08 Quarterly interest rate (r) = 0.02 (i.e. 0.08 / 4)…

Q: Calculate the compound amount. Use the compound amount formula and calculator. (round your  answer…

A: Compound interest is the addition of interest to the principal sum of a loan or deposit, or interest…

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%