Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 04, 2024

Double your money - Rule of 72 Approximately how long will it take to double your money if you get an annual return of 4.2%,

Double your money - Rule of 72

Approximately how long will it take to double your money if you get an annual return of 4.2%, 6.2%, or 11.5% on your investment

In years how long will it take to reach each of these? Round to two decimal places.

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

Recommended Textbook for

Essentials Of Managerial Finance

Authors: Scott Besley, Eugene F. Brigham

13th Edition

0324258755, 9780324258752

More Books

Students also viewed these Finance questions

Question

★★★★★

What skills would you need to function in this type of work environment? Technology is speeding up new product development while also reducing its costs. What formerly took months and cost millions...

Answered: 1 week ago

Question

★★★★★

Research on the impact of visualization and imagery training (using your imagination to picture yourself performing a task) has shown that imagination can be as eective as practising a skill...

Answered: 1 week ago

Question

★★★★★

What is meant by strategic HRD? Evaluate the major components of strategic HRD.

Answered: 1 week ago

Question

★★★★★

Explain what a $5 billion increase in bank reserves will do to real GDP under the following assumptions: a. Each $1 billion increase in bank reserves reduces the rate of interest by 0.5 percentage...

Answered: 1 week ago

Question

★★★★★

Double your money - Rule of 72 Approximately how long will it take to double your money if you get an annual return of 4.2%, 6.2%, or 11.5% on your investment In years how long will it take to reach...

Answered: 1 week ago

Question

★★★★★

Q. The 2-year interest rate in Mexico is 7%, and the 2-yearinterest rate in the United States is 4%. The Mexican Peso istrading at 18.75 per 1 US Dollar today (spot). If the 2 yearforward Mexican p 2...

Answered: 1 week ago

Question

★★★★★

In your workplace or a simulated workplace environment, lead and facilitate a team on two separate occasions with different individuals or groups. During this activity, you must: Prepare to lead a...

Answered: 1 week ago

Question

★★★★★

(b) XYZ is a paper packaging materials producing company. Nathaniel had been appointed as a consultant to map the various business processes in the company. It has to be noted that Nathaniel has very...

Answered: 1 week ago

Question

★★★★★

Watts and Ross find themselves constantly trying to make up for missing ingredients. no scheduling or inventory system is perfect so allowance must always be made to accommodate things that might go...

Answered: 1 week ago

Question

★★★★★

> QUESTION 5 A consumer group is going to write an article about buying a compact car. To this end, they are compiling prices of similar cars from 30 different retailers. This is their data....

Answered: 1 week ago

Question

★★★★★

1 Obtain the compounding factor (A|F,4.09%,8) Question 2 Obtain the compounding factors of (A|F,6.17%,7) Question 3 Obtain the compounding factors of (A|P,12.36%,15) Question 4 Obtain the compounding...

Answered: 1 week ago

Previous Question Next Question