Solving for n with non-annual periods)Approximately how many years would it take for an investment to grow if it were invested at 16 percent compounded ? Assume that you invest $1 today.

If you invest $1 at 16 percent compounded , about how many years would it take for your investment to grow to $7? (Hint: Remember to convert your calculator solution to years.)

nothing years(Round to one decimal place.)

(Related to Checkpoint 5.7) (Calculating an EAR)Your grandmother asks for your help in choosing a certificate of deposit (CD) from a bank with a one-year maturity and a fixed interest rate. The first certificate of deposit, CD #1, pays 3.95 percent APR compounded quarterly , while the second certificate of deposit, CD #2 4.00, pays percent APR compounded monthly. What is the effective annual rate (the EAR) of each CD, and which CD do you recommend to your grandmother?

1. If the first certificate of deposit, CD #1, pays percent APR compounded , the EAR for the deposit is 4.01%. (Round to two decimal places.)
2. If the second certificate of deposit, CD #2, pays percent APR compounded , the EAR for the deposit is %. (Round to two decimal places.)

Helg P5-12 (similar to) Question Help (Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.2 million at the time of her retirement in 34 years. She has found a mutual fund that will eam 8 percent annually How much will Sarah have to invest today? If Sarah earned an annual return of 17 percent, how soon could she then retire? a. If Sarah can earn 8 percent annually for the next 34 years, the amount of money she will have to invest today is $ 160699. (Round to the nearest cent) b. If Sarah can eam an annual return of 17 percent, the number of years until she could retire is years (Round to one decimal place) (Related to Checkpoint 6.7) (Calculating an EAR) After examining the various personal loan rates available to you, you find that you can borrow funds from a finance company at 11 percent compounded daily or from a bank at 12 percent compounded quarterly. Which alternative is more attractive If you can borrow funds from a finance company at 11 percent compounded daily, the EAR for the loan is % (Round to two decimal places) Helg P5-12 (similar to) Question Help (Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.2 million at the time of her retirement in 34 years. She has found a mutual fund that will eam 8 percent annually How much will Sarah have to invest today? If Sarah earned an annual return of 17 percent, how soon could she then retire? a. If Sarah can earn 8 percent annually for the next 34 years, the amount of money she will have to invest today is $ 160699. (Round to the nearest cent) b. If Sarah can eam an annual return of 17 percent, the number of years until she could retire is years (Round to one decimal place) (Related to Checkpoint 6.7) (Calculating an EAR) After examining the various personal loan rates available to you, you find that you can borrow funds from a finance company at 11 percent compounded daily or from a bank at 12 percent compounded quarterly. Which alternative is more attractive If you can borrow funds from a finance company at 11 percent compounded daily, the EAR for the loan is % (Round to two decimal places)