Question

How long would it take a sum to double if the growth rate was 5% per year?

How long would it take a sum to triple if the growth rate was 5% per year?

Answer #1

5-13 TIME FOR A LUMP SUM TO DOUBLE How long
will it take $300 to double if it earns the following rates?
Compounding occurs once a year.
a. 6%
b. 13%
c. 21%
d. 100%

How long will it take for $26,000 to double if the interest rate
is 6% per year to the nearest 1/100th of a
year?

We sometimes need to find how long it will take a sum of money
to grow to some specified amount. For example, if a
company’s sales are growing at a rate of 20% per year,
approximately how long will it take sales to triple?

How long will it take a sum of money to double if interest is at
11% compounded semiannually?

How long would it take to triple your money if the interest rate
was:
5% compounded yearly
5% compounded monthly
5% compounded weekly
5% compounded continuously

22)
How long would it take for the price level to double if
inflation persisted at the following percentages? Instructions:
Enter your answers as whole numbers. a. 2 percent per year: b. 5
percent per year: c. 10 percent per year:

How long would it take for the price level to double if
inflation persisted at the following percentages? Instructions:
Enter your answers as whole numbers. a. 8.75 percent per year:
years. b. 1.25 percent per year: years. c. 1.75 percent per year:
years.

How long will it take for $1,000 to double if the interest rate
is 4%? If the interest rate is 8%? If the
interest rate is 12%?

Approximately how long would it take $500,000 to double to one
million dollars if it were invested at 6%, compounded annually
?

39. Suppose that going forward inflation is 5% per year. How
long will it take for the price level to double? ______.
40. Refer to your answer to question 39. If you want to maintain
your purchasing power over that time period, your nominal income
must increase annually by what percent? ________.

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