For how long would P1,000,000 have to be invested at 5% simple interest for it to double its value? (Note: Disregarding reinvestments and inflation). Answer in years
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For how long would P1,000,000 have to be invested at 5% simple interest for it to double its value? (Note: Disregarding reinvestments and inflation).
Answer in years
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Solved in 2 steps
- Kindly provide a CLEAR and COMPLETE solution.How long will it take money to triple itself if invested at (9/100)% compounded quarterly? What is the effective rate of interest?What is the present value of $25,000 to be recieved in 15 years at a (a) 6.2 percent rate and (b) 9.6 percent rate? Explain why the present value is lower when the interest rate is higher?For each of the following situations involving single amounts, solve for the unknown (?). Assume that interest is compounded annually. (i = interest rate, and n = number of years) Present Value Future Value i n1. ? $ 40,000 10% 52. $ 36,289 65,000 ? 103. 15,884 40,000 8 ?4. 46,651 100,000 ? 85. 15,376 ? 7 20
- An investment becomes P 4,500,000 four years from now and becomes P 5,250,000 thirteen years from now. a. Assuming rate of compounded interest remains constant through time, what was the investment's value on the present time? b. What rate of interest compounded quarterly is equivalent to the interest rate of the given investment? c. What rate of interest compounded monthly is equivalent to the interest rate of the given investment?nt Use the compound interest formulas A = P and A = Pert to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $20,000 for 7 years at an interest rate of 4.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously. a. What is the accumulated value if the money is compounded semiannually? (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) b.What is the accumulated value if the money is compounded quarterly? (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) c. What is the accumulated value if the money is compounded monthly? (Round your answer to the nearest cent. Do not include the $ symbol in your answer.) d. What is the accumulated value if the money is compounded continuously? (Round your answer to the nearest cent. Do not include the $ symbol in your answer.)2. Find the future value of OMR10,000 invested now after five years if the annual interest rate is 8 percent. a. What would be the future value if the interest rate is a simple interest rate? b. What would be the future value if the interest rate is a compound interest rate?
- Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A = $5500, r = 7%, t = 4 years (Round up to the nearest cent.)How long will an amount of money double at a simple interest rate of 2% per annum?How long would it take an investment to triple if the interest rate is 6% compounded annually?(a) 9.90 years(b) 12.23 years(c) 14.65 years(d) 18.85 years
- 3. Given that P = 15,250, r = 3.25% and t=3 years, find the simple interest. 4. If the interest rate is 12% compounded quarterly, what is the interest rate per conversion period? 5. Given that Is = 3,750, r = 2 1/2 % and t = 3 years, what is the principal or present value?What is the present value (PV) of $1 million received 100 years from now, assuming the interest rate is 5% per year?What is the future value of ordinary annunity of RM1000 per year for 7 year compounded at 10% ? What would be future value if it were innunity due?
