Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

1. Find the time required for an investment of 5000 dollars to grow to 7900 dollars at an interest rate of 7.5 percent per year,

1. Find the time required for an investment of 5000 dollars to grow to 7900 dollars at an interest rate of 7.5 percent per year, compounded quarterly.

Your answer is t=

2. Find the time required for an investment of 5000 dollars to grow to 6200 dollars at an interest rate of 6.5% per year, compounded quarterly. Round to the nearest year.

Your answer is t=

3. Find the time required for an investment of 5000 dollars to grow to 8200 dollars at an interest rate of 7.5 percent per year, compounded quarterly.

Your answer is t=

4. Find the time required for an investment of 5000 dollars to grow to 8400 dollars at an interest rate of 6.5 percent per year, compounded daily.

5. Find the time required for an investment of 4,000 dollars to grow to 6,000 dollars at an interest rate of 7% per year, compounded monthly. Give your answer accurate to 2 decimal places.

6. Find the time required for an investment of $ 5000 to grow to $ 8500 at an interest rate of 7.5 percent per year, compounded quarterly. Round to 2 decimal places. t=

7. Find the time required for an investment of 5,000 dollars to grow to 8,000 dollars at an interest rate of 5% per year, compounded monthly.

Answer =

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: John J. Wild, Ken W. Shaw

2010 Edition

978-0073379586

Students also viewed these Mathematics questions