To the closest year, how long will it take $200 to double if it is deposited and
Question:
To the closest year, how long will it take $200 to double if it is deposited and earns the following rates? [Notes: (1) See the hint for Problem 2-1. (2) This problem cannot be solved exactly with some financial calculators. For example, if you enter PV _ _200, PMT _ 0, FV _ 400, and I _ 7 in an HP-12C, and then press the N key, you will get 11 years for part a. The correct answer is 10.2448 years, which rounds to 10, but the calculator rounds up. However, the HP-10B gives the correct answer.]
a. 7 percent.
b. 10 percent.
c. 18 percent.
d. 100 percent.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 47% (17 reviews)
a With a financial calculator enter I 7 PV ...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial management theory and practice
ISBN: 978-0324422696
12th Edition
Authors: Eugene F. Brigham and Michael C. Ehrhardt
Question Posted:
Students also viewed these Finance questions
-
To the nearest month, how long will it take an investment to increase in value by 200% if it earns 7.5% compounded semiannually?
-
To the nearest day, how long will it take a $20,000 investment to grow to $22,000 (including accrued interest) if it earns 7% compounded quarterly? Assume that a quarter year has 91 days.
-
How long will it take a payment of $500 per quarter to amortize a loan of $8,000 at 16% compounded quarterly? Approximate your answer in terms of years and months. How much less time will it take if...
-
Marketing costs like advertising and sales commissions are Multiple choice question. part of costs of goods sold. part of gross profit. selling expenses
-
Determine the relative amounts (in terms of volume fractions) of the phases for the alloys and temperatures given in Problems 9.10a, b, and d. The following table gives the approximate densities of...
-
Use the direct method to determine cash flows from operating activities The following accounts and corresponding balances were drawn from Pizzazz Company's 2012 and 2011 year-end balance sheets:...
-
Adjusting the accounts is the process of a. recording transactions as they occur during the period. b. updating the accounts at the end of the period. C. zeroing out account balances to prepare for...
-
McEnroe Company has 20 executives to whom it grants compensatory share options on January 1, 2007. At that time it grants each executive the right to purchase 100 shares of its $5 par common stock at...
-
Section 3: Professional Competitive Advantage Describe how the material covered in organizational communication might help you become a more competitive professional. Provide two specific examples...
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
Use equations and a financial calculator to find the following values. See the hint for Problem 2-1. a. An initial $500 compounded for 10 years at 6 percent. b. An initial $500 compounded for 10...
-
Find the future value of the following annuities. The first payment in these annuities is made at the end of Year 1; that is, they are ordinary annuities. (Note: See the hint to Problem 2-1. Also,...
-
A developer plans to start construction of a building in one year if at that point rent levels make construction feasible. At that time the building will cost $1,000,000 to construct. During the...
-
Concord Corporation purchased 2,300 shares of its $10 par value common stock for $151,800 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold...
-
A furniture company currently produces 8, 300 chairs per month If production increases by 6%, find the increase in the number of chairs per month Also, find the new number of chairs produced each...
-
With the following paragraphs, give me a good response that replies back to the following. Make sure you make a good response, agree/disagree and give proof with citations: The criminal justice...
-
Why financial statement analysis is important to the firm and to outside capital providers. What are liquidity ratios used for? How many liquidity ratios are there? What do the different liquidity...
-
Word of mouth ( WOM ) is a very powerful form of marketing communication. Discuss its use in online and offline marketing environments. Refer to relevant literature and illustrate your answer with...
-
A BJT has an Early voltage of \(80 \mathrm{~V}\). The collector current is \(I_{C}=0.60 \mathrm{~mA}\) at a collector-emitter voltage of \(V_{C E}=2 \mathrm{~V}\). (a) Determine the collector current...
-
Refer to the table to answer the following questions. Year Nominal GDP (in billions) Total Federal Spending (in billions) Real GDP (in billions) Real Federal Spending (in billions) 2000 9,817 578...
-
Evaluate the integral. /1 + x dx
-
Edmund Enterprises recently made a large investment to upgrade its technology. While these improvements wont have much effect on performance in the short run, they are expected to reduce future costs...
-
How would each of the following changes tend to affect aggregate payout ratios (that is, the average for all corporations), other things held constant? Explain your answers. a. An increase in the...
-
What is the difference between a stock dividend and a stock split? As a stockholder, would you prefer to see your company declare a 100% stock dividend or a 2-for-1 split? Assume that either action...
-
Even with restricted access to storeroom keys, it is sometimes desirable to change locks.Under what specific conditions would you, as a food controller, advise a manager to change locks?
-
You borrow $6,026.56 at an annual interest rate of 15.35%, compounded once every year.If you have 14 years to pay off the loan, what must be your per period payment? How do I do the steps in Excel?...
-
You are the new project manager tasked with taking over for a projectmanagerwho left six weeks ago. Some of the numbers that you find in your initial research are as follows: A)Estimated project...
Study smarter with the SolutionInn App