Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4.At what interest rate would you need to invest to have your money double in 10 years if it is compounded annually? 4. At what

4.At what interest rate would you need to invest to have your money double in 10 years if it is compounded annually?

image text in transcribed 4. At what interest rate would you need to invest to have your money double in 10 years if it is compounded annually? PV FV NPER RATE -$2,000 $4,000 10 86% -- Use the RATE function in Excel. PV should be negative, FV should be positive. PMT shoul uld be positive. PMT should be blank

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Basic Finance An Introduction To Financial Institutions, Investments, And Management

Authors: Herbert B. Mayo

12th Edition

1337691011, 978-1337691017

More Books

Students also viewed these Finance questions