Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Approximately, what interest rate would you need to earn in order to turn $ 5 0 0 0 into $ 1 0 0 0 0

Approximately, what interest rate would you need to earn in order to turn $5000 into $10000 over 8 years?
11%.
8%.
4%.
9%.
image text in transcribed

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

Entrepreneurial Finance

Authors: Denise Lee

1st Edition

1948426129, 9781948426121

More Books

Students also viewed these Finance questions