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LOGARITHMS You are a rising star in the music industry, and you have just received word that you will be rewarded with a $500,000 bonus this year. As your chauffeur drives you home in the company's limousine, you call your accountant, who suggest investing your bonus in a high-yield account offering 12.6% continuous interest. A friend you knew in college, however, wants you to invest your bonus in his restaurant business, and has promised 12.6% interest, compounded quarterly. You want to compare both accounts before making a decision, so you crunch the numbers to find out: 1. HOW LONG WILL IT TAKE TO EARN AN EXTRA $100,000? 2. WHEN WILL THE ACCOUNT HAVE $750,000? 3. HOW LONG WILL IT TAKE TO DOUBLE MY MONEY? 4. HOW LONG WILL IT TAKE TO TRIPLE MY INVESTMENT? aring v our

LOGARITHMS You are a rising star in the music industry, and you have just received word that you will be rewarded with a $500,000 bonus this year. As your chauffeur drives you home in the company's limousine, you call your accountant, who suggest investing your bonus in a high-yield account offering 12.6% continuous interest. A friend you knew in college, however, wants you to invest your bonus in his restaurant business, and has promised 12.6% interest, compounded quarterly. You want to compare both accounts before making a decision, so you crunch the numbers to find out: 1. HOW LONG WILL IT TAKE TO EARN AN EXTRA $100,000? 2. WHEN WILL THE ACCOUNT HAVE $750,000? 3. HOW LONG WILL IT TAKE TO DOUBLE MY MONEY? 4. HOW LONG WILL IT TAKE TO TRIPLE MY INVESTMENT? aring v our

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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LOGARITHMŞ PROJECT You are a rising star in the music industry, and you have just received word that you will be rewarded with a $500,000 bonus this year. As your chauffeur drives you home in the company's limousine, you call your accountant, who suggest investing your bonus in a high-yield account offering 12.6% continuous interest. A friend you knew in college, however, wants you to invest your bonus in his restaurant business, and has promised 12.6% interest, compounded quarterly. You want to compare both accounts before making a decision, so you crunch the numbers to find out: 1. HOW LONG WILL IT TAKE TO EARN AN EXTRA $100,000? 2. WHEN WILL THE ACCOUNT HAVE $750,000? 3. HOW LONG WILL IT TAKE TO DOUBLE MY MONEY? 4. HOW LONG WILL IT TAKE TO TRIPLE MY INVESTMENT? Create either a Google Slideshow or a poster comparing your projected savings for both accounts. Show the formula and calculations for each question for each account. Which account would you invest in and why? Logarithm Project Rubric: Points Possible Points Earned Accountant's Suggestion
Transcribed Image Text:LOGARITHMŞ PROJECT You are a rising star in the music industry, and you have just received word that you will be rewarded with a $500,000 bonus this year. As your chauffeur drives you home in the company's limousine, you call your accountant, who suggest investing your bonus in a high-yield account offering 12.6% continuous interest. A friend you knew in college, however, wants you to invest your bonus in his restaurant business, and has promised 12.6% interest, compounded quarterly. You want to compare both accounts before making a decision, so you crunch the numbers to find out: 1. HOW LONG WILL IT TAKE TO EARN AN EXTRA $100,000? 2. WHEN WILL THE ACCOUNT HAVE $750,000? 3. HOW LONG WILL IT TAKE TO DOUBLE MY MONEY? 4. HOW LONG WILL IT TAKE TO TRIPLE MY INVESTMENT? Create either a Google Slideshow or a poster comparing your projected savings for both accounts. Show the formula and calculations for each question for each account. Which account would you invest in and why? Logarithm Project Rubric: Points Possible Points Earned Accountant's Suggestion
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