Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Congratulations, you are Correct Answers): (Your response(s) are shown below followed by the correct answer(s) As saving for a trip for his family and as

image text in transcribed
Congratulations, you are Correct Answers): (Your response(s) are shown below followed by the correct answer(s) As saving for a trip for his family and as of today has accumulated $325 trip fund, AJ's goal is to accumulate $1628 or 5 times this amount to support the trip Assuming that all of Austrip und es invested to earn an interest rate of 3%, how long in years and infractions of a year, will it take to achieve his goal? 54 4406 sees Vrean INSTRUCTIONS Place your answer in years and parts of a year up to two decimal places for example, the answer of 5.33 would be needed as 6 and one third years You should work all analysis using at least 4 decimal places of accuracy Feedback In this problemen is booking to determine how much time it will take in years and fraction of a year to accumulate a specific amount of money For ekath. Alhas 5000 and his soat is to grow this brown amount by 2 time this amount. In other words, the ran $100 cm w goal to have $200. Hefunds will grow by 5200 = $100 (106to the power on 5200 5100 (105) to the power of 2 (the power of 2 Wow the algum 0.0094735 068200 0.035147/0.06.200 1100 Youne Prise Spika - Backspace 5 6 7 8 Congratulations, you are Correct Answers): (Your response(s) are shown below followed by the correct answer(s) As saving for a trip for his family and as of today has accumulated $325 trip fund, AJ's goal is to accumulate $1628 or 5 times this amount to support the trip Assuming that all of Austrip und es invested to earn an interest rate of 3%, how long in years and infractions of a year, will it take to achieve his goal? 54 4406 sees Vrean INSTRUCTIONS Place your answer in years and parts of a year up to two decimal places for example, the answer of 5.33 would be needed as 6 and one third years You should work all analysis using at least 4 decimal places of accuracy Feedback In this problemen is booking to determine how much time it will take in years and fraction of a year to accumulate a specific amount of money For ekath. Alhas 5000 and his soat is to grow this brown amount by 2 time this amount. In other words, the ran $100 cm w goal to have $200. Hefunds will grow by 5200 = $100 (106to the power on 5200 5100 (105) to the power of 2 (the power of 2 Wow the algum 0.0094735 068200 0.035147/0.06.200 1100 Youne Prise Spika - Backspace 5 6 7 8

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

Meetings Expositions Events And Conventions An Introduction To The Industry

Authors: George Fenich

5th Edition

0134735900, 9780134735900

More Books

Students also viewed these Finance questions