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%

24
At a growth (interest) rate of 9 percent annually, how long will
it take for a sum to double? To triple? Use Appendix A for an
approximate answer, but calculate your final answer using the
formula and financial calculator methods. (Do not round
intermediate calculations. Round your final answers to 2 decimal
places.)

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?

TIME FOR A LUMP SUM TO DOUBLE
How long will it take $500 to double if it earns the following
rates? Compounding occurs once a year. Round each answer to two
decimal places.
3%.
year(s)
10%.
year(s)
17%.
year(s)
100%.
year(s)

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%?

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