Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 22, 2024

How many years would it take for a debt to grow by 7 2 % if the annual compound interest rate is 4 . 7

How many years would it take for a debt to grow by

72 %

if the

annual compound interest rate is

4.7 %

with

144

compoundings per

year?

Round your answer to the nearest tenth of a year.

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

Forecasting Principles And Practice

Authors: Rob J Hyndman, George Athanasopoulos

3rd Edition

0987507133, 978-0987507136

More Books

Students also viewed these Finance questions

Question

★★★★★

In Chapter 4, we discussed the federal government's agricultural programs. In arguing that the costs of these programs exceed their benefits, economist Vincent H. Smith stated, "The 10% to 15% of...

Answered: 1 week ago

Question

★★★★★

A hardware company has 60 different retail stores in which 1500 different products are sold. Write a paragraph or two explaining why matrices provide an efficient method of inventory control, and...

Answered: 1 week ago

Question

★★★★★

11.19 Suppose you wish to use Tukey's method for paired comparisons to rank a set of population means. In addition to the analysis of variance assumptions, what other property must the treatment...

Answered: 1 week ago

Question

★★★★★

Determine the magnitudes of F1, F2 and F3 for equilibrium of the particle F = {- 9i - 8j - 5k}. Units Used: kN = 103 N Given: F = (-9 -8 -5) kN a = 4 m b = 2 m c = 4 m θ1 = 30 deg θ2 = 60...

Answered: 1 week ago

Question

★★★★★

Zilly co predicts sales of $172,000 for june Zilly pays a sales manager a monthly salary manager a monthly salary of $5,700 and a commission of 8% of sales dollars

Answered: 1 week ago

Question

★★★★★

Robichau Inc. reported the following results from last year's operations: Sales 6,300,000 variable expenses 4,930,000 contribution margin 1,370,000 fixed expenses 803,000 Net operating income 567,000...

Answered: 1 week ago

Question

★★★★★

The following data are for Paso Robles Company for the year ended 2009 December 31: COSTS : DIRECT MATERIAL$90000 DIRECT LABOR130000 MANUFACTURING OVERHEAD : VARIABLE45000 FIXED90000 SALES COMMISSION...

Answered: 1 week ago

Question

★★★★★

The analyzing of organizations in the lens of this theory features the use of asking questions in order to gage the health of the organization. One of the questions often asked with the use of this...

Answered: 1 week ago

Question

★★★★★

You have configured a switch. You have set the IP on VLAN500. The uplink port which is connected t the router is also in VLAN500. You have just connected 3 devices to the switch ports. The devices...

Answered: 1 week ago

Question

★★★★★

Troy (single) purchased a home in Hopkinton, Massachusetts, on January 1, 2007, for $215,000. He sold the home on January 1, 2023, for $242,900. How much gain must Troy recognize on his home sale in...

Answered: 1 week ago

Question

★★★★★

6. Assume the following HFC corporate bond trades on the GSE has a face value of GH1000 Bond HFC 9s29 Current yield ? Volume 500 Close 10512 Net change -14 a. How much does this bond pay every six...

Answered: 1 week ago

Question

★★★★★

4.22 a. A very large shipment of parts contains 10% defectives. Two parts are chosen at random from the shipment and checked. Let the random variable X denote the number of defectives found. Find the...

Answered: 1 week ago

Question

★★★★★

4.14 In a geography assignment the grade obtained is the random variable X. It has been found that students have these probabilities of getting a specific grade: A: 0.18 D: 0.07 B: 0.32 E: 0.03 C:...

Answered: 1 week ago

Question

★★★★★

4.21 A municipal bus company has started operations in a new subdivision. Records were kept on the numbers of riders on one bus route during the early-morning weekday service. The accompanying table...

Answered: 1 week ago

Previous Question Next Question