How many months will it take for an investment to triple if the interest rate is9% compounded monthly?(a) less than 140 months(b) between 140 months and 150 months(c) between 151 months and 160 months(d) more than 161 months

Q: If an amount of $9000 is borrowed at an interest rate of 24% per year for 12 years, how much is the…

A: Simple interest is calculated by multiplying the principal by interest and given years.

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A: Number of years refers to the time period for which the investment is paid. Sometimes, the period of…

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A: Computation:

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A: p = $1000,000 d = 7 days r = 5%

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A: Simple interest is interest on investment without any compounding. Compound interest is the interest…

Q: Approximately how many years does it take to double a $600 investment when interest rates are 6…

A: In the above question we need to compute the time period i.e. number of years required to make the…

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A: Years (and months) will it take $2 million to grow to $4.00 million with an annual interest rate of…

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A: Given information: Present value is $4,000 Future value is $16,000 Interest rate is 21%

Q: How long would it take you to double your money in an investment if it earns 5.75% compounded…

A:

Q: What is the compound interest if $47,000 is invested for 10 years at 8% compounded continuously?…

A: The formula used as follows: A=Pert

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A: Using excel PV function Where  PMT is a periodic payment NPER is no. of periods RATE is rate per…

Q: Approximately how many years does it take to double a $300 investment when interest rates are 8…

A: Details given are : Today investment (Present value) = $300 Future value = $300 * 2 = $600 Interest…

Q: What is the value of an investment that pays $54,000 every other year forever, if the first payment…

A: In the given question we require to calculate the value of investment that  pays $54000 every year…

Q: Suppose that $1,000 is invested for 4 years at an interest rate of 12%, compounded quarterly. How…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: How many years will it take an investment to triple if the interest rate is 6% compounded annually?

A: In the given question we are required to compute the number of years that will make the investment…

Q: How long would it take to double your money in an account paying 8% compounded quarterly? Ignoring…

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

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A: Simple interest is interest earned on the 'initial' principal amount invested at the simple interest…

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A:

Q: What simple interest rate is equivalent to 5% compounded quarterly if money is invested for 10…

A: Concept. 1. Simple interest formula. SI = P × N × R…

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A: Given: Present value = $1,000 Future value = $1,500 Interest rate = 7.2%

Q: How long would it take an investment to double under each of the following conditions? (a) Interest…

A: (a)Interest Rate = 3.3%Type of Compounding = MonthlyNumber of Compounding = 12 Assumption:Present…

Q: Finance. Suppose that $4,300 is invested at 3.4% annual interest rate, compounded monthly. How much…

A: Given Information Present Value = $4,300 Interest rate =3.4% compounded monthly Time Period in Part…

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A: Using excel NPER function

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A: The Rule fo 72 is a model which helps in knowing the number of years it will take to double the…

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A:

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A:

Q: What will $82,000 grow to be in 11 years if it is invested at 8% and the interest  rate is…

A: Future value can be calculated using FV (rate, nper, pmt, [Pv], [type]) Rate The interest rate Nper…

Q: Suppose that $1,000 is invested at 5% interest compounded monthly. Use the formula A = (1+)". (a)…

A: The compounding factor is the value that denotes the number of periods the compounding is made in a…

Q: How much will you have in 48 months if you invest $105 a month at 12% annual interest?

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Q: An investment will pay $19,691 in 19 years. If the interest rate is 12.24%, how much is it worth…

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A: Compounded quarterly means the interest on the outstanding balance is calculated quarterly and added…

Q: An interest rate of 12% per year, compounded monthly is equivalent to what nominal and effective…

A: The nominal interest rate can be defined as the rate of return on an investment with out any…

Q: What will $142,000 grow to be in 6 years if it is invested today in an account with a quoted annual…

A: Present value (PV) = $142000 Interest rate = 14% Monthly interest rate (r) = 14%/12 =…

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A: Time value of money (TVM) refers to the concept which proves that the value of money today is higher…

Q: Approximately how many years does it take to double a $475 investment when interest rates are 8…

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A: The future value of the cash flow is the future worth of a cash flow at a certain rate of interest…

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A: The present value of a sum will be double when the interest accumulated on it will be equal to the…

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A: Calculation of NPER:Answer:Number of years (and months) it will takes is 10 years and 2 months.Excel…

Q: How many years will it take an investment to triple if the interest rate is 8% compounded monthly?

A: Annual interest rate = 8% Monthly interest rate (r) = 8%/12 = 0.666666666666667% Future value factor…

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Q: If an investment doubles in 9 years, how long will it take to quadruple (at the same rate of…

A: Investment is an action or process of investing money for getting profit.

Q: How long would it take an investment to triple if the interest rate is 6% compounded annually?(a)…

A: The future value of the cash flow is the future worth of a cash flow at a certain rate of interest…

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.