Answered step by step
Verified Expert Solution
Question
1 Approved Answer
5. Using an annual interest rate of 20%, how long will it take to triple your investments? Hint: You can make any numbers for PV
5. Using an annual interest rate of 20%, how long will it take to triple your investments? Hint: You can make any numbers for PV and FV. For example, if PV = 30, the FV = 90 (either PV or FV must be negative, depends on which one is cash OUTFLOW for you) a. 6.026 YEARS b. 6.026 days c. 7.698 YEARS d. 7.698 days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started