Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If you invest $5,000 today and in 10 years the investment is worth $15,000, what rate of interest did you earn? A) 13.11% B) 139.35%

If you invest $5,000 today and in 10 years the investment is worth $15,000, what rate of interest did you earn?

A)

13.11%

B)

139.35%

C)

There is no solution to this problem

D)

11.61%

Bob invests $150,000 today. He believes he will earn a 9% return on his investment. How much will the investment be worth exactly 10 years from now? (Don't worry about rounding, select the answer closest to the correct one.)

A)

355,104.00

B)

63,361.00

C)

$161, 637.00

D)

$139, 200.00

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_2

Step: 3

blur-text-image_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

Business Finance

Authors: Brian Watts

8th Edition

0712110720, 978-0712110723

More Books

Students also viewed these Finance questions