Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please give me the answer of this as soon as possible Solve the two questions below. You may right of the question by hand and

Please give me the answer of this as soon as possible image text in transcribed
Solve the two questions below. You may right of the question by hand and submit a picture, or submit the answers on MS WORD. Do not just put a final answer, you must show your work to get a good Mark! Rule of 72: a) Doug invested $2,500 into a Certificate of Deposit earning 6.5% interest. How long will it take to double Doug's investment? b) Jacob has $5,000 that he has saved from doing odd jobs around the neighborhood. When he graduates from college in four years, he would like to have $10,000 to use as a down payment on a new car. It Jacob is going to realize his dream what interest rate wil he have to investha money at? Time calculation: c) Rounded to the nearest month, how long will it take for $25,000 to grow to $35,000 at 9% compounded quarterly

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

QS 9000 Handbook A Guide To Registration And Audit

Authors: Jayanta Bandyopadhyay

1st Edition

157444011X, 978-1574440119

More Books

Students also viewed these Accounting questions

Question

Explain basic guidelines for effective multicultural communication.

Answered: 1 week ago

Question

Identify communication barriers and describe ways to remove them.

Answered: 1 week ago

Question

Explain the communication process.

Answered: 1 week ago