If you open a savings account that earns 6.5%simple interest per year, what is the minimum number of years you must wait to triple your balance?Suppose you open another account that earns 6%interest compounded yearly. How many years will ittake now to triple your balance?
If you open a savings account that earns 6.5%simple interest per year, what is the minimum number of years you must wait to triple your balance?Suppose you open another account that earns 6%interest compounded yearly. How many years will ittake now to triple your balance?
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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If you open a savings account that earns 6.5%
simple interest per year, what is the minimum number of years you must wait to triple your balance?
Suppose you open another account that earns 6%
interest compounded yearly. How many years will it
take now to triple your balance?
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