ENGR.ECONOMY CUSTOM FOR TAMU ISEN 667
ENGR.ECONOMY CUSTOM FOR TAMU ISEN 667
8th Edition
ISBN: 9781307584394
Author: Blank
Publisher: MCG/CREATE
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Chapter 1, Problem 56APQ
To determine

Calculate the minimum time period to double the investment.

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The cost of tuition at a large public university was $390 per credit hour 5 years ago. The cost today (exactly 5 years later) is $585. The annual rate of increase is closest to: (a) 5% (b) 7% (c) 9% (d) 11%
An interest rate of 18% per year, compounded continuously, is closest to an effective: (a) 1.51% per quarter (b) 4.5% per quarter (c) 4.6% per quarter (d) 9% per 6 months
An interest rate of 12% per year, compounded monthly, is nearest to: (a) 12.08% per year (b) 12.28% per year (c) 12.48% per year (d) 12.68% per year
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