If interest is compounded at 20% per year, how long will it take for $50,000 to accumulate

Question:

If interest is compounded at 20% per year, how long will it take for $50,000 to accumulate to $86,400?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

See More Books

Question Posted: Dec 17, 2012 05:30 AM

See More Questions

How long will it take to save $15 000 by making deposits of $90 at the end of every month into an account earning interest at 4% compounded quarterly?
How long will it take the population of Problems 5 to triple? In problem 5 A bacterial population grows at a rate proportional to its size. Initially, it is 10000, and after 10days it is 20000. What...
How long will it take sound waves to travel the distance l between the points A and B if the air temperature between them varies linearly from T1 to T2? The velocity of sound propagation in air is...
Data obtained from asking the wrong questions at the wrong time or in the wrong place can lead to misleading summary statistics. Explain why the following collection procedures are likely to produce...
Consider this traffic circle. This is the traffic volume, in units of cars per five minutes We can set up equations to model how the traffic flows. (a) Adapt Kirchhoff's Current Law to this...
What are the objectives of distribution inventory management?
Driving speed and fuel consumption Exercise 9 (page 160) gives data on the fuel consumption y of a car at various speeds x. Fuel consumption is measured in liters of gasoline per 100 kilometers...
The Bucks Grande exhibition baseball team plays 50 weeks each year and uses an average of 350 baseballs per week. The team orders baseballs from Coopers-Town, Inc., a ball manufacturer noted for...
Old MathJax webview Prepare a multiple-step income statement for Armstrong Co. from the following data for the year ended December 31. Sales, $755,000; cost of merchandise sold, $330,000,...
As of January 1, 2017, the trial balance for Haven Hospital was as follows: During the fiscal year ended December 31, 2017, the following transactions occurred: 1. Patient service revenue amounted to...
A solid waste disposal company borrowed money at 10% per year interest to purchase new haulers and other equipment needed at the company owned landfill site. If the company got the loan 2 years ago...
To make CDs look more attractive than they really are, some banks advertise that their rates are higher than their competitors' rates; however, the fine print says that the rate is a simple interest...
Show how to construct a Boolean circuit C such that, if we create variables only for the inputs of C and then try to build a Boolean formula that is equivalent to C, then we will create a formula...
PART 1: DIGITAL TECHNOLOGY: Describe the key digital technology groups studied in this course and include a discussion of two examples for each group. PART 2: SOCIAL MEDIA: As studied in this course,...
Doing a strategic analysis of GraceKennedy Limited, What is the current level of its economic performance, an indication of the factors responsible for the current performance and recommendations for...
Dynamic capability is the ability for change and manage corporate learning. It allows an enterprise to adapt, develop and respond to future opportunities and discontinuous technologies. Innovation...
What potential solutions can organizations try to help support the adoption of a CDSS? In other words, what are some ways an organization can address the factors of implementation obstruction that...
Identify and briefly describe and discuss the three most important factors in building and maintaining trust among virtual global team members. Include in your discussion how you can leverage these...
Examine the various purposes of life insurance in Figure 23.1. Can you add anything to this list? Would you delete anything? Prepare a list of reasons for purchasing life insurance based on your...
Find the inverse, if it exists, for the matrix. -1
What is the output of the following code snippet? A. 0 B. 1 C. 2 D. 3 E. The code does not compile. F. None of the above. int count 0; var stops = new String[] { "Washington", "Monroe", "Jackson",...
An automatic process controller will eliminate the current manual control operations. The annual cost of the current method is $5,000. If the controller has a service life of 12 years, and an...
A small textile plant was constructed in 2000. The major equipment, costs, and factors are shown below. Estimate the cost to build a new plant in 2010 if the index for this type of equipment has...
The proposed small office building in Example 3-2 has 24,000 net square feet of area heated by a natural gas furnace. The owner of the building wants to know the approximate cost of heating the...
Your company BMG Inc. has to liquidate some equipment that is being replaced. The originally cost of the equipment is $120,000. The firm has deprecated 65% of the original cost. The salvage value of...
1. What are the steps that the company has to do in time of merger transaction? And What are the obstacle that may lead to merger failure? 2.What are the Exceptions to not to consolidate the...
Problem 12-22 Net Present Value Analysis [LO12-2] The Sweetwater Candy Company would like to buy a new machine that would automatically "dip" chocolates. The dipping operation currently is done...

If interest is compounded at 20% per year, how long will it take for $50,000 to accumulate

Question:

Step by Step Answer:

Answer 3 years Explanation Given principle P 50000 Rate of Interest R 20 Amount accum...View the full answer

Engineering economy

Students also viewed these Economics questions