At a growth interest) rate of 15 percent annually, how long will it take for a sum to double? To triple? Use Appendix A for an approximate answer, but calculate your final answer using the formula and financial I years Y years Time needed to double Time needed to triple calculator methods. Appendix A Future value of $1,FV, FV=PV1+1 TO DOUBLE 4.67 TRIPLE: 7.40 116 1.040 1.082 1.125 Period 1% 2% 3% 1.010 1.020 1030 1.020 1.040 1061 1.030 1,061 1.093 1.041 1.082 1.126 1.051 1.104 1.159 1.062 1.126 1.194 1.072 1.149 1 230 1.083 1.172 1.267 1.094 1.195 1 305 1.105 1.219 1.344 1.116 1.243 1.384 1.127 1.268 1.426 1.138 1.294 1.469 1.149 1.319 1.513 1.161 1.346 1.558 1.173 1.373 1.6OS 1.184 1.653 1.196 1.428 1.702 1 208 1457 1.754 1.220 1.486 1.806 1.282 1.641 2.094 1.348 1.811 2427 1.489 2.208 3.262 1.645 2.6924.384 Appendix A concluded) Future value of 51 % 8 BULUNU 1.170 1.217 1.265 1.316 1.369 1.423 1.480 1.539 1.601 1.665 1.732 1.801 1.873 1.948 2.026 2.107 2.191 2.666 3.243 4.801 7.107 5% 1.050 1.103 1.158 1216 1.276 1340 1 407 1.477 1551 1629 1.710 1.796 1886 1.980 2079 2.183 Percent 6% 7% 1.060 1070 1 124 1.145 1.191 1.225 1262 1.311 1.338 1.403 1.419 1.501 1.504 1 606 1.594 1.718 1.689 1.838 1.791 1.967 1.898 2.105 2012 2.252 2.133 2.410 2.261 2.579 2.397 2.759 2.540 2.952 2.693 3.159 2.854 3.380 3.026 3.617 3.207 4.292 5.427 5.743 7.612 10.286 14.974 18.420 29.457 8% 1 080 1.166 1.260 1360 1.469 1.587 1.714 1.851 1.999 2.159 2.332 2518 2.720 2937 3.172 3.426 3.700 3.996 4.316 4.661 6.848 10.063 21.725 46.902 9% 1.090 1 188 1.295 1.412 1.539 1.677 1.828 1.993 2.172 2.367 2.580 2.813 3.066 3.342 3.642 3.970 4.328 4.717 5142 5.604 8623 13.268 31.409 74.358 10% 1.100 1.210 1.331 1.464 1.611 1.772 1.949 2.144 2.358 2.594 2.853 3.138 3.452 3.797 4.177 4.595 5.054 5.560 6.116 6.727 10.835 17.449 45.259 117.39 1.110 1.232 1.368 1.518 1.685 1.870 2.076 2.305 2.558 2.839 3.152 3.498 3.883 4.310 4.785 5.311 5.895 6.544 7253 8.062 13.585 22,892 65.001 18457 1400 2292 3.870 2407 2.527 2653 3.386 4.322 7.040 11467 Percent Period 15% 12% 1.120 1.254 1.405 SON 86O WN- 1.762 1.974 2211 2.476 2773 3.106 3.479 3.896 4363 4.887 5.474 6.130 6.866 7.690 8.613 9.646 17.000 29.960 93.051 289.00 13% 1.130 1.277 1.443 1.630 1.842 2.082 2353 2.658 3.004 3.395 3.836 4335 4.898 5535 6.254 7067 7.986 9024 10.197 11.521 21.231 39.116 132.78 450.74 14% 1.140 1.300 1.482 1.689 1.925 2.195 2.502 2.853 3.252 3.707 4.226 4.18 5.492 6261 7138 8.137 9.276 10575 12.056 13.743 26.462 50.950 188.88 700.23 1.150 1323 1.521 1.749 2011 2313 2660 3059 3.518 4046 4,652 5 350 6.153 7.076 8.137 9358 10.761 12375 14.232 1 6 367 32919 66 212 267.86 1,083.7 16% 1.160 1.346 1.561 1.811 2.100 2.436 2826 3.278 3803 4.411 5.117 5936 6.886 7988 9.266 10.748 12 468 14.463 16.777 19.461 40.874 85.850 378.72 1.670.7 17% 1.170 1.369 1.602 1.874 2.192 2.565 3.001 3.511 4.108 4.807 5.624 6.580 7.699 9.007 10.539 12.330 14.426 16.879 19.748 23.106 50.658 111.07 533.87 2.5662 3 1.180 1.392 1.643 1939 2288 2.700 3 185 3759 4.435 5.234 6.176 7209 8.599 10.147 11.974 14.129 16,672 19673 23.214 27.393 62.669 143.37 7 50:38 ,927.4 19% 1.190 1.416 1.685 2.005 2.386 2.840 3.379 4.021 4.785 5.696 6.777 8.064 9.596 11.420 13.590 16.172 19.244 22.091 27.252 32.429 7 7.388 184.68 1.051.7 5,988.9 20% 1200 1.440 1.728 2.074 2488 2.986 3583 4.300 5.160 6.192 7430 8.916 10.699 12.839 15.407 18.488 22 186 26.623 31.948 38.338 95 396 237 38 1.469.8 9.100 4 25% 30% 1.250 1.300 1.563 1.690 1.953 2.197 2.441 2.856 3052 3.713 3.815 4.327 4.768 6276 5.960 8.157 7.451 10.604 9.313 13.786 11.642 17.922 14.552 23 298 18 190 30 288 22.737 39 374 28.422 51.186 35.527 66.542 44.409 86.504 55.511 11246 69.389 146.19 36.736 190.05 264.70 705.64 807.79 2.620.0 7,523.2 36,119.0 70,0650497.9290
