If the interest rate is 6% per year compounded quarterly, how long (number of quarters) does it take to rn $100 interest on an initial deposit of $300? Downtown is experiencing an explosive population growth of 18% annually. At the end of 2002, the pulation was 16,000. If the growth rate continues unabated, at the end of how many years will the pulation have passed 75,000?
If the interest rate is 6% per year compounded quarterly, how long (number of quarters) does it take to rn $100 interest on an initial deposit of $300? Downtown is experiencing an explosive population growth of 18% annually. At the end of 2002, the pulation was 16,000. If the growth rate continues unabated, at the end of how many years will the pulation have passed 75,000?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:2.
a. If the interest rate is 6% per year compounded quarterly, how long (number of quarters) does it take to
earn $100 interest on an initial deposit of $300?
2.
b. Downtown is experiencing an explosive population growth of 18% annually. At the end of 2002, the
population was 16,000. If the growth rate continues unabated, at the end of how many years will the
population have passed 75,000?
They will last 10 years.
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