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please solve Solve the following problems. Rule of 72, Simple Interest, & Future Value Rule of 72 1. How many years does it take an
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Solve the following problems. Rule of 72, Simple Interest, & Future Value Rule of 72 1. How many years does it take an investment to double earning 4% ? Rule of 72 2. How many years does it take an investment to double earning 9% ? Rule of 72 3. How many years does it take an investment to double earning 6% ? Rule of 72 4. How many years does it take an investment to double earning 10% ? Rule of 72 5. How many years does it take an investment to double earning 12% ? Rule of 72 Simpleinterest 6. Borrow $40,000 at 9% on a 270 day loan. Calculate the simple interest. 7. Borrow $20,000 at 8% on a 90 day loan. Calculate the simple interest. 8. Borrow $10,000 at 7% on a 40 month loan. Calculate the simple interest. 9. Borrow $5,000 at 11% on a 28 month loan. Calculate the simple interest. 10. Borrow $3,000 at 6% on a 33/8 year loan. Calculate the simple interest. 11. Borrow $18,000 at 4% on a 25/8 year loan. Calculate the simple interest. Future value 12. An investor places $2,000 in a mutual fund that historically has earned 8% and leaves it in for 20 years. Calculate the future value. 13. An investor buys $10,000 worth of stock that historically has earned 9% and holds it for 30 years. Calculate the future value. 14. An investor places $5,000 in a mutual fund that historically has earned 10% for 15 years. Calculate the future value 15. An investor buys $100,000 worth of stock that historically has earned 7% and holds it for 25 years. Calculate the future value. 16. An investor buys $25,000 worth of stock that historically has earned 11% and holds it for 20 years. Calculate the future value Step by Step Solution
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