Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(Compound value solving for n) How many years will the following take? a. $490 to grow to $1,129.22 if invested at 11 percent compounded annually

image text in transcribed
(Compound value solving for n) How many years will the following take? a. $490 to grow to $1,129.22 if invested at 11 percent compounded annually b. $43 to grow to $64.53 if invested at 7 percent compounded annually c. $95 to grow to $465.31 if invested at 13 percent compounded annually d. $51 to grow to $59.66 if invested at 4 percent compounded annually a. How many years will it take for $490 to grow to $1,129.22 if invested at 11 percent compounded annually? years (Round to the nearest whole number.) b. How many years will it take for $43 to grow to $64.53 it invested at 7 percent compounded annually? years (Round to the nearest whole number.) c. How many years will it take for $95 to grow to $466.31 if invested at 13 percent compounded annually? years (Round to the nearest whole number.) d. How many years will it take for $51 to grow to $59.66 if invested at 4 percent compounded annually? years (Round to the nearest whole number.)

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

Financial And Insurance Formulas

Authors: Tomas Cipra

2010th Edition

3790829013, 978-3790829013

More Books

Students also viewed these Finance questions

Question

Is every behaviour associated with a specic brain region?

Answered: 1 week ago