Question
Earnest T needs $870 for his next trip to Raleigh. He has $620 in cash. How long in years will it take the $620 cash
Earnest T needs $870 for his next trip to Raleigh. He has $620 in cash. How long in years will it take the $620 cash to grow to $870 if Earnest T earns 10.7% per annum on his cash, compounded quarterly? (Enter your answers in years to 2 decimal places, e.g., 12.34)
You bought a painting 6 years ago as an investment. You originally paid $197,000 for it. If you sold it for $297,000, what is your annual return on the investment? Assume annual compounding. (Round to 100th of a percent and enter your answer as a percentage, e.g., 12.34 for 12.34%)
The Heavens Gate Group have $48 million in cash. In order to reach the comet that will take them to a new world they need the $48 million to grow to $105 million. How many years will it take before the group can leave if they earn 9.7% per annum on their stash of cash? Assume annual compounding. (Enter your answer in years to 2 decimal places, e.g., 12.34)
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