Question
How many years will it take for 9,000 to grow to 84,000 if you can earn...
How many years will it take for 9,000 to grow to 84,000 if you can earn an average rate of 6.9% per year
Homework Answers
Answer #1
We can use the compound interest formula to find the answer:
Where,
A = Amount
P = Principal amount
i = rate of return
n = number of years
i = 6.9 /100 = 0.069
Substituting the values, we get:
Now taking Log on both sides we get:
Not the answer you're looking for?
Similar Questions
Investing. How many years will it take $9,000 to grow to $16,700 if it is invested...
Investing. How many years will it take $9,000 to grow to $16,700
if it is invested at 3% (A) compounded quarterly? (B)
compounded continuously?
- How many years will it take for $100,000 to grow to $500,000 if it is...
- How many years will it take for $100,000 to grow to $500,000
if it is invested at an annual interest rate of 9.15%? Round to the
nearest 0.01.
- You are told that if you invest $5,000 per year for 35 years
you will have accumulated $1,000,000. What is the annual rate of
return on the latter investment? Round to the nearest 0.01%.
Show the work with formulas. - How many years will it take for $100,000 to grow...
Show the work with formulas.
- How many years will it take for $100,000 to grow to $500,000
if it is invested at an annual interest rate of 9.15%? Round to the
nearest 0.01.
- You are told that if you invest $5,000 per year for 35 years
you will have accumulated $1,000,000. What is the annual rate of
return on the latter investment? Round to the nearest 0.01%.
Que: How many years will it take to acquire the 1.5 million if you only earn...
Que: How many years will it take to acquire the 1.5 million if
you only earn 6% and have 50k now and put in 12k per year?
a. 54
b. 33
c. 40
d. 38
How many years will it take $145,000 to grow to $675,000 if it is invested in...
How many years will it take $145,000 to grow to $675,000 if it
is invested in an account with a quoted annual interest rate of 9%
with monthly compounding of interest?
1. How many years will it take for $480 to grow to $1,061.07 if it's invested...
1. How many years will it take for $480 to grow to $1,061.07 if
it's invested at 7 percent compounded annually?
The number of years it will take for $480 to grow to $1,061.07
at 7 percent compounded annually is ___ years?
2. At what annual interest rate, compounded annually, would
$520 have to be invested for it to grow to $2,008.76 in 10
years?
The annual interest rate, compounded annually, at which $520
must be invested for it to...
(Compound value solving for n) How many years will the following take?a. $500 to grow to...
(Compound
value solving for
n)
How many years will the following take?a.
$500
to grow to
$1,039.50
if invested at
5
percent compounded annuallyb.
$35
to grow to
$53.87
if invested at
9
percent compounded annuallyc.
$100
to grow to
$298.60
if invested at
20
percent compounded annuallyd.
$53
to grow to
$78.76
if invested at
2
percent compounded annuallya. How many years will it take
for
$500
to grow to
$1,039.50
if invested at
5
percent compounded annually?
nothing...
Compound value solving for n) How many years will the following take?a. $510 to grow to...
Compound
value solving for
n)
How many years will the following take?a.
$510
to grow to
$1,093.23
if invested at
10
percent compounded annuallyb.
$38
to grow to
$60.30
if invested at
8
percent compounded annuallyc.
$110
to grow to
$421.94
if invested at
13
percent compounded annuallyd.
$51
to grow to
$64.39
if invested at
6
percent compounded annually
a. How many years will it take for
$510
to grow to
$1,093.23
if invested at
10
percent compounded annually?...
How many years does it take for $1,000 grow to be $1,500, if interest rate is...
How many years does it take for $1,000 grow to be
$1,500, if interest rate is 12% compounded monthly?
BGN or END MODE ( choose one ) P/Y =
N= ?
I/Y=
PV=
PMT=
FV=
CPT , N =
Can you explain how you computed it for compunded monthly.
2. How many years does it take for $1,000 to grow to be
$1,500, if interest rate is 12%?
BGN or END MODE ( choose one ) P/Y =
N= ?...
How long will it take you to grow your $5,000 investment in your savings account to...
How long will it take you to grow your $5,000 investment in your
savings account to $12,000 for a down payment on a new sports car?
Assume you can earn 1.5% annual interest per year on your savings,
compounded monthly, and you make no further deposits into the
account.
Multiple Choice
700.81 years
58.80 years
4.90 years
63.87 years
58.40 years
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 46 seconds ago
asked 10 minutes ago
asked 18 minutes ago
asked 33 minutes ago
asked 44 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago