How long will it take $800 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two decimal places. 6%. year(s) 11%. year(s) 17%. year(s) 100%. year(s)

Q: An amount of $1200.00 earns $300.00 interest in four years, nine months. What is the effective…

A: Amount (PV) = $1200 Interest = $300 Final Amount (FV) = $1200 + $300 = $1500 Time (NPER) = 4 x 12 +…

Q: a-1. Calculate the present value of an annual payment of $870.00 you would received for 12 years if…

A: A series of payments made at equal intervals over a period is an annuity. The present value of…

Q: An amount of $1200 is deposited for 7 years in an account that earns 9% interest. (Round your…

A: P = $1,200R = 9% or 0.09 (as a decimal)T = 7 years

Q: If $840.00 accumulates to $1177.12 in three years, nine months compounded quarterly, what is the…

A: The objective of the question is to find the effective annual rate of interest when the principal…

Q: An investment of $837.00 earned interest quarterly. If the balance after 7 years was $1251.24, what…

A: Initial investment = $ 837Future value = $ 1251.24No of years = 7Number of quarters = 7*4= 28Find…

Q: what would be the value of a saving account started with 2800, earning

A: The estimated value of a financial asset or investment at a particular future date, accounting for…

Q: How much interest (in dollars) is earned in 9 years on $8,500 deposited in an account paying 5%…

A: Future value (FV) refers to the amount of money that an investment will be worth at a future point…

Q: What sum of money will grow to $2960.91 in six years at 6.1% compounded semi-annually? The sum of…

A: Given: Future value = $2,960.91 Years = 6 Interest rate = 6.1% Compounding semi annually.

Q: How much must be deposited at the end of every six months for 5 years to accumulate to $2171.00 at…

A: Given information: Future value is $2,171.00 Interest rate is 5% compounded semi-annually, Number of…

Q: What deposit made at the beginning of each month will accumulate to $120,000 at 30% compounded…

A: The deposit amount can be calculated with the help of future value of annuity due function

Q: Compute the interest. Round off your final answer up to 2 decimal places. 1. P27,000 at 6.5% simple…

A: Answer  1.    Principal = P27,000        Interest Rate = 6.5%        Year =  1 Simple Interest =…

Q: Calculate the present value. (Round your answer to two decimal places.) A = $49,000, r = 7.6%…

A: Given information: Amount is $49,000 Interest rate 7.6% compounded annually Number of years is 37

Q: What is the present value of a $1,500 payment made in nine years when the discount rate is 8…

A: Present value is the Future Value discounted at an appropriate discount rate.   Given as under:…

Q: An amount of $1800 is deposited for 7 years in an account that earns 7% interest. (Round your…

A: simple interest formula: I = P×r×t100where,p = principalr = rate of interestt = no of years

Q: Julia Henry deposited $19,300 in a money market certificate that provides interest of 10% compounded…

A: FV is an abbreviation used for future value where the amount that is deposited today will be found…

Q: At 7.24% interest, how long does it take (in years) to quadruple your money. Answer to two decimals.

A: The concept of TVM refers to the interest-earning capacity of money because money earned earlier is…

Q: 20. How long will it take for $65 to amount to $6500 if invested at 11% compounded monthly? Express…

A: The objective of this question is to find out how long it will take for an investment of $65 to grow…

Q: investment, what nominal rate of interest, compounded semi-annually must you earn?

A: Information Provided: Principal = $26,000 Years = 13 Semiannual payments to be received = $1700

Q: he APY c ompounde PY is

A: APY means Annual Percentage Yield .  It tells us that if you invest some amount how much total…

Q: You have deposited $96,780 into an account that will earn an interest rate of 15% compounded…

A: Amount  = P [1 + (r /100) ]n where P = Principal = $ 96780 r = rate of interest = 15 /2 = 7.5% n =…

Q: Find the sum of money that accumulates to $1338.98 at 7.9% compounded quarterly in two years, ten…

A: According to the concept of present value, the amounts of money today are worth more than equivalent…

Q: What is the rate (in %) compounded semi-annually if 132511 accumulates to $398053 in 9 years and 3…

A: Given, Amount deposited 132511 Amount accumulated 398053 Term is 9 years and 3 months which is 9.25…

Q: How much must be deposited at the end of each month for 7.75 years to accumulate to $1264.00 at 7%…

A: The given problem can be solved using PMT function in excel. PMT function computes savings/…

Q: Find the equated date at which the original payments are equivalent to the single payment. State…

A: The objective of the question is to find the time at which the original payments are equivalent to…

Q: If $15,500 is deposited in an account earning interest compounded continuously at 4.00% for 12…

A: Continously compounded interest rate:Continuously compounded interest rate represents a method of…

Q: Calculate the annual effective rate equivalent to a nominal rate of 8.84% compounded quarterly.…

A: Given: Nominal rate for quarterly compounding = 8.84% Annual effective rate = (1 + rq/ n)n -1 where…

Q: Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.…

A: Present value=Future value /  [ 1 + (Interest rate x Number of years)]

Q: Suppose that your Home Owner's Association dues increase by 8% each year. Use the approximate…

A: Doubling time can be defined as a concept that determines the time required to double the investment…

Q: Mr. Maillet has contributed $138.00 at the end of each month into an RRSP paying 6% per annum…

A:

Q: How much interest (in dollars) is earned in 7 years on $8,800 deposited in an account paying 7%…

A: To solve this problem, we can use the formula for compound interest: A = P(1 + r/n)^(nt) where: A…

Q: Help Desiree Yeung compute the rate of interest at which $30 paid at the beginning of every three…

A: The future value of an annuity is the total value of a series of equal periodic payments at a…

Q: What is the value today of receiving $2,674.59 per year forever? Assume the first payment is made…

A: Present value refers to the current value of an asset that will be present at some future date which…

Q: Complete the table to determine the balance A for P dollars invested at rater for t years,…

A: The future value refers to the amount or value after the continuous compounding of the amount with…

Q: Find the compound amount and the amount of interest earned by the deposit below. $9,000 at 7.79%…

A: Deposit amount (P) = $9000 Interest rate (r) = 7.79% Period (t) = 3 years Mathematics constant (e) =…

Q: How long (in years) will it take to quadruple it earns 0.07 compounded semiannually? Note:…

A: Interest rate = 0.07 Future value factor = 4 Compounding =  semi annual

Q: If $6000 is deposited at the end of each half year in an account that earns 6.5% compounded…

A: The value of money refers to the concept that the value of money changes over time due to various…

Q: Complete the table for an account in which interest is compounded continuously. (Round your answers…

A: This is a case of continuous compounding. We will have to convert the given rate to the EAR…

Q: If $19,000 is deposited in an account earning interest compounded weekly at 5.87% for 13 years, what…

A: Effective Rate of Interest: It is the annual rate on a loan or investment considering the effects…

Q: Find the future value of and the compound interest on $100 invested at 4.7% compounded semi-annually…

A: Formula to be used: FV=PV * (1+rn)n*t where FV= Future value or accumulated value PV= Present value…

Q: Using the rule of 72, calculate how quickly $10,000 will double to $20,000 at interest rates of 2…

A: At 2% interest rate: Number of periods = 72 / interest rate Number of periods = 72 / 2% Number of…

Q: Use up to 6 decimal places during solving for the answer. Write all numerical final answers round…

A:

Q: In how many months will $1652 grow to $2276 at 5.8% p.a.? Round to one decimal. Answer:

A: The concept of TVM refers to the interest-earning capacity of money that shows that the amount…