Question

How long would it take for money to triple in value if
invested at:

a.9% compounded annually

b. 9% compounded monthly

b.12% compounded quarterly

c.12% compounded monthly

Answer #1

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**Answer:**

Future value = Present value x (1 + Periodic Rate)^Number of periods

a)

3 = 1*(1.09)^n

log3 = n log (1.09)

=> n = 12.75 years ~ 13 years

b)

3 = 1*(1+0.09/12)^n

3 = 1.0075^n

log 3 = n log (1.0075)

=> n = 147.03 periods/months

c)

3 = 1*(1+0.12/3)^n

=> log3 = n log (1.04)

n = 28.011 ~ 28 quarters

d)

3 = 1*(1.12)^n

log3 = n log (1.12)

n = 9.694 years

How long will it take money to triple at an APR of
6.3
%
compounded annually?
It will take
______
years to triple an amount of money earning
6.3
%
compounded annually.

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

over what period of time will money triple at 9% compounded
quarterly

How long will it take for money to tripe at a rate of 4.5%
compounded quarterly?

How long will it take to double your money at 6% interest
compounded annually?

18-a) What would be the future value of $18,000
invested now if the money remains deposited for eight years, the
annual interest rate is 18 percent, and interest on the investment
is compounded semi-annually?
b) How would your answer for (a) change if quarterly compounding
were used?

1)Sophie invested an amount of $24,000 in a mutual fund. After 3
years and 3 months the accumulated value of her investment was
$25,815.47. What is the quarterly compounded nominal interest rate
of the investment?
2)Helen heard that she could triple her money in 27 years if she
invested it in her friend's telecommunications business. What
nominal interest rate compounded quarterly does the business
offer?
3)If an investment grew to $15,000 in 2 years and the interest
amount earned was...

1. What nominal rate compounded annually would
quadruple the principal in 4
years?
2. A master card compounds monthly and charges an interest of 1.5%
per month.
What is the effective interest rate per year?
3. How long will it take money to triple itself if invested at 8%
compounded
annually?
4. Microsoft CEO, billionaire Bill Gates willed that a sum of $25
million be given to a
child but will be held in trust by the child’s mother until...

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Jake puts his money in account earning 7% compounded annually
and wants to leave it there until it reaches ten times its original
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How long must he leave the money in the account?
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instead of annually?

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