Question

An investment grows at 24% compounded monthly. How many years will it take to do the...

An investment grows at 24% compounded monthly. How many years will it take to do the following? (Round your answers to one decimal place.) (a) double ______yr (b) increase by 45% _______ yr

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
How long will it take an investment of $2000 to double if the investment earns interest...
How long will it take an investment of $2000 to double if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to one decimal place.
Republic Finance offers money at 1.27% per month compounded monthly. How many YEARS will it take...
Republic Finance offers money at 1.27% per month compounded monthly. How many YEARS will it take for an investment to triple? (Your answer can be a decimal.)
Q3) How many years would it take an investment of $333 to grow to $10,789 at...
Q3) How many years would it take an investment of $333 to grow to $10,789 at an annual rate of return of 11.00%? Q4) How much money would you need to deposit today at 23.00% annual interest compounded monthly to have $26,802 in the account after 13 years? Q5) If you deposit $729 into an account paying 15.00% annual interest compounded quarterly, how many years until there is $37,847 in the account? Q6) If you deposit $21,114 at 06.00% annual...
How many years will it take for a $ 2,000 investment, at 8% interest compounded semi-annually,...
How many years will it take for a $ 2,000 investment, at 8% interest compounded semi-annually, to grow to $ 12,000. In that interest, how many years will it take for the investment to reach the amount of $ 12,000?
Suppose $40,000 is invested in an account that returns 7% per year compounded continuously. (Round your...
Suppose $40,000 is invested in an account that returns 7% per year compounded continuously. (Round your answers to one decimal place.) a. how long will it take for the investment to double? ____ yrs b. How long will it take for the investment to triple? _____ yrs
Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.) Initial Investment...
Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.) Initial Investment Annual % Rate Time to Double Amount After 10 Years $ 6.4% yr $14,000
1, How many years will it take to pay off a car loan of $25,703 at...
1, How many years will it take to pay off a car loan of $25,703 at an annual rate of 12.38% compounded monthly if you make monthly payment of $614? Please round your answer to the second decimal. e.g. 1.11 2. You are saving money to travel around the globe. You've taken your first job and you plan to save $434 each month into the bank account that pays 7.37% compounded monthly for the next three years for your grad...
A) Find the interest rate needed for an investment of $8,000 to double in 14 yr...
A) Find the interest rate needed for an investment of $8,000 to double in 14 yr if interest is compounded monthly. B)How long will it take for an investment of $10,000 to grow to $12,500 if the investment earns interest at the rate of 8%/year compounded annually? C)How long will it take for an investment of $15,000 to double if the investment earns interest at the rate of 7%/year compounded continuously?
Clark and Lana take a 30-year home mortgage of $129,000 at 7.8%, compounded monthly. They make...
Clark and Lana take a 30-year home mortgage of $129,000 at 7.8%, compounded monthly. They make their regular monthly payments for 5 years, then decide to pay $1400 per month. (a) Find their regular monthly payment. (Round your answer to the nearest cent.) the answer is $ 928.63 (b) Find the unpaid balance when they begin paying the $1400. (Round your answer to the nearest cent.) the answer is $ 122,411.73 (c) How many payments of $1400 will it take...
(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...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT