Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve Solve the following problems. Rule of 72, Simple Interest, & Future Value Rule of 72 1. How many years does it take an

please solve
image text in transcribed
image text in transcribed
image text in transcribed
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

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

Global Finance And The Macroeconomy

Authors: A. Makin

1st Edition

0333736982, 978-0333736982

More Books

Students also viewed these Finance questions

Question

Briefly explain what the time value of money means.

Answered: 1 week ago