How long will an amount of money double at a simple interest rate for 2% per annum? _______ years

Q: For future value $20,000, 18 years at 6% compounded interest continuously, determine the questions…

A: Present value refers to the current value of the amount that is expected by an investor to receive…

Q: How much must you invest now at 3% interest to accumulate $162627.2 in 45 years? Round to the…

A: PV=FV×PVIF3%, 45 YEARS=$162,627.2×0.264439=$43,004.97

Q: Imagine that you have $8,000 to invest for 19 years. How much more interest will you earn if you…

A: Interest is the cost of borrowing or lending money.

Q: What interest rate compounded continuosly did a $15000 investment earn if it accumulated to $18000…

A: Given: Accrued Amount (A) = $18000 Principal Amount (P) = $15000 Time (t) = 5 years

Q: For a sum of money to double itself in 10 years, what must be the rate of interest compounded…

A: The amount of money invested over a period of time with the assumption of investment growth at a…

Q: PROBLEM SOLVING A certain amount of money after a decade i 10,000.00. If the interest rate after the…

A: In this we need to find the present value of future value.

Q: How long will it take for a sum of money to double if it is invested at 5% interest compounded…

A: Time value of money concept says that a sum of amount invested today will have more value in future…

Q: Double your money-Rule of 72 Approximately how long will it take to double your money if you get an…

A: The Rule of 72 is a simple way to determine how long an investment will take to double given a fixed…

Q: You deposit $100 today, $200 one year from now, and $300 three years from now. How much money will…

A: The concept of the time value of money states that the same amount of money today is worth more than…

Q: At what nominal interest rate will money double in 8 years if interest is compounded quarterly? What…

A: Solution Given Rate of interest                compounded quarterly                 =? Number of…

Q: How much money be invested today in order to withdraw P1500 per year at the end of each year for 8…

A: Annual withdrawal (P) = P1500 Interest rate (r) = 8% Number of withdrawals (n) = 8

Q: C). If money doubles at certain rate of interest compound monthly in six years. How long will it…

A: Future Worth is value of a current amount at future point of time. It is done by compounding that…

Q: What is the present value of $25,000 to be received in 15 years at an (A) 6.2% interest rate and (B)…

A: Present value is computed as: Present value =Future value1+ interest ratenumber of years

Q: Calculate the future value of $2,000 in a. 3 years at an interest rate of 10% per year. b. 6 years…

A: Future value = Present value ×(1+pir) ^n Where,  Pir = Periodic interest rate n = number of periods…

Q: Problem 1. How much should you invest at 6% annual interest rate to obtain a simple interest of…

A: The present value is the value of the sum received at time 0. It is the current value of the sum…

Q: 3. Calculate the amount of interest earned on $10,250 invested for 5 years at 8% compounded…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 15. If money is worth 4 2/5% simple interest, what is the present value of 7,215 due in 4 year and 7…

A: Annual simple interest rate = 4 2/5 = 4.04% Future value = 7215 Period = 4 Years and 7 months = 4…

Q: If you invest $2,138.04$2,138.04 in an account earning an annual interest rate of 4.838%4.838%…

A: The solution of this question is depend the formula of compound interest. Therefore we will use the…

Q: An investment pays simple interest, and quadruples in 10 years. What is the interest rate?

A: Time Period = 10 Years

Q: b. Calculate the present value of $5,000 received five years from today if your investment pays 6%…

A: The concept of present value implies that a sum of money shares are worth more than for the amount…

Q: If the present value of $400 paid one year from now is $320, what is the one-year interest rate?

A: Interest refers to the amount charged by the lender on the lent amount. The borrower of the loan is…

Q: Fifty thousand pesos is deposited annually at an interest rate of 6% per annum compounded…

A: The number of years which will be required to accumulate the given amount is known as the duration…

Q: consider a $5,600 deposit earning 10 percent interest per year for 10 years. What is the future…

A: Deposit  amount = $ 5,600 Interest rate = 10% Period = 10 Years

Q: What is the value today of a money machine that will pay $4,860.00 per year for 18.00 years? Assume…

A: Present Value=PMT1-1(1+r)nrWhere,PMT=annuity payment made at the end of each periodr=rate of…

Q: a) What would be the accumulated value of ₺ 5000 in a saving account at 8% per year for 4 years when…

A: Using Future value in excel.

Q: At what annual interest rate will $1,200 invested today be worth $2.500 in 12 years?

A: Total amount (A) = 2,500 Principal (P) = 1,200 Years (n) = 12

Q: A sum of 12,500 amounts to 15,500 in 4 years at the rate of simple interest. What is the rate of…

A: Simple interest is defined as an interest type, which is an easy method for the calculation of an…

Q: How long will it take for a sum of money to double if it is invested at 5% interest compounded…

A: The formula to calculate is ; A=P(1+r/10)t where P is the principal, r is the rate, A is the…

Q: What is the value today of a money machine that will pay $2,977.00 per year for 15.00 years? Assume…

A: present value of annuity (pva)=A×1-11+rnrpresent value of lump sum =future…

Q: The simple interest rate per year required to accumulate the same amount of money in 2 years at 20%…

A: Simple interest is the amount earned on principal whereas compound interest is the amount earned on…

Q: What is the present value of $8,000 received 10 years from today when the interest rate is 4% per​…

A: The payment amount which is expected to receive in future is discounted for the period between today…

Q: 2. How much would you need to have deposited in a bank account 10 years ago in order to have £80,000…

A: Information Provided: Future value = 80,000 Interest rate = 2% compounded continuously  Term = 10…

Q: QUESTION 1 You have a sum of $100,000 and wish to withdraw a certain (unknown) amount in year 1 and…

A: Annuity is a concept of cash flow series where equal instalments are paid at equal time interval…

Q: How long will an amount of money double at a simple interest rate of 2% per annum?

A: Let, it takes n years to double the money. Then, 2 = 1 + 1 x n x 2% 1 = n x 2% n = 1/2% n = 50 years

Q: 2. You are asked to find the future value of $ 20,000 invested now after five years if the annual…

A: Part A: Present value = $20,000 Time period = 5 years Interest Rate = 8% The simple interest formula…

Q: If money is worth 12% per annum, compounded monthly, how long will it take the principal P to…

A: Compounding the amount invested provides future value.

Q: a. Calculate the amount deposited 1 year ago to have $1000 now at an interest rate of 5% per year.b.…

A: Interest is measured as a percentage of the amount of the loan (or deposit), charged periodically to…

Q: You deposit $4,000 today, $5,000 one year from now, and $7,000 three years from now. How much money…

A: Information Provided: Year 0 investment = $4000 Year 1 investment = $5000 Year 3 investment = $7000…

Q: 2. What is the actual rate of interest if £4000 deposited for 3 years attracts interest of £1440?

A: As per Bartleby Honor Code, when multiple independent questions are asked, the expert is required…

Q: How much money be invested today in order to withdraw P1500 per year at the end of each year for 8…

A: P 1,500 amount is to be withdrawn at the end of each year for next 8 years and the interest rate is…

Q: Calculate the future value of $7,000 in 3 years at an interest rate of 6% per year. (Round to the…

A: Future value = Present value x (1 + r)n