Question
14. How long will it take to double your savings if you earn 3.6 percent interest, compounded annually? Group of answer choices 17.78 years 18.04
14.
How long will it take to double your savings if you earn 3.6 percent interest, compounded annually?
Group of answer choices
17.78 years
18.04 years
18.67 years
19.42 years
19.60 years
15.
You want to have $50,000 for a down payment on a house 5 years from now. If you can earn 7.5 percent, compounded annually, on your savings, how much do you need to deposit today to reach your goal?
Group of answer choices
$35,133.35
$34,827.93
$34,677.70
$33,989.16
$32,886.33
16.
Today, Tony is investing $16,000 at 6.5 percent, compounded annually, for 4 years. How much additional income could he earn if he had invested this amount at 7 percent, compounded annually?
Group of answer choices
$323.22
$389.28
$401.16
$442.79
$484.08
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