What rate of interest (in %) compounded annually is required to triple an investment in 5 years? Round your answer to 2 decimal places. Add your answer
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if rate is asked, your input should be in percentage.
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- Please try to solve in 20 minute Your client plans to invest $2000 at the end of each year. The rate of return on the investment is 7.5% compounded annually. What will be the value of the investment at the end of 12 years?An investment of $2658 is made at the beginning of each month for 4 years and 11 months. How much will the investment be at the end of the term, if interest is 5% compounded monthly? Round your answer to 2 decimal places.How long does it take for your money to double if you can earn 7% on your investment? Triple? Quadruple?
- Rafael invested $2,000 in a business that yields an annual interest rate of 10% compounded continuously. How much would he get. approximately at the end of 5 years from his investment?At 8% annual interest compounded quarterly, how long will it take to become a millionaire if you invest your money worth $120,000?Chris makes a deposit of $500 into his savings account at the beginning of each year for the next 20 years. If the account earns 5% interest rate per year compounded annually, what will be the future value at the end of 20 years?Need to calculate.
- Edward wants to take a long trip around Europe 7 years from now. He estimates that he will need $12,000 to finance the trip. Edward has found a stock portfolio that generates a 8% yearly rate of return. How much does Edward need to invest today to afford the trip? Round to the nearest dollar, do not enter a dollar sign.Jake Werkheiser decides to invest $5000 in an IRA at the end of each year for the next 11 years. If he makes these investments, and if the certificates pay 9%, compounded annually, how much will he have at the end of the 11 years?QUESTION 3 if you invest $1,000 for 3 years in a term deposit with simple annual interest rate of 10%, the future value of the deposits at the end of the term will be Do not type the $ sign. Express your result with no decimals.
- Find the present value (in dollars) of an annuity that pays $7,000 at the end of each 6-month period for 7 years if the interest rate is 6% compounded semiannually. (Round your answer to two decimal places.) $QUESTION 2 1. You need $30,000 to buy a new Air-Con for your house in 4 years. What value you must have now if the compounded annually return is 10%. 2. Your father placed $50,000 in a trust fund for you. In 12 years what will be the worth of the savings. If the estimated rate of return on the trust fund is 7%?The compound interest on a certain sum of money for 2 years is $ 52.00 and the simple interest for the same time at the same rate is $50.00. Find the rate %. Show formula and solution.