How many years will it take for a sum of money to double itself at 7% compound monthly?

Q: A principal of $4400 is invested at 4.75% interest, compounded annually. How much will the…

A: explanation and solution is given below.....

Q: A principal of $2100 is invested at 8.5% interest, compounded annually. How much will the investment…

A: From the given information, it is observed that P = $2100, r = 8.5% = 0.085, and t = 14. Note that,…

Q: $30,000 is invested for 15 years with an APR of 4.5% and daily compounding

A: Given information P=$30,000 Rate of interest r=4.5%  ⇒r=4.5100=0.045 Time t=15 years For quarterly…

Q: A principal of $2600 is invested at 4.25% interest, compounded annually. How much will the…

A: NOTE: Refresh your page if you can't see any equations. . here we have P=2600 r=4.25%=0.0425 n=1 for…

Q: What rate of interest compounded annually is required to triple an investment in 11 years? The rate…

A: Recall: Compound interest Formula:                 A=P(1+rn)nt ; where A- Amount after t years…

Q: Trinh invested $3800 at an annual interest rate of 8%, compounded annually. How much will she have…

A:

Q: Tom wants to have $6000 in three years .at 4.75% interest compounded monthly how much does he need…

A: used formula : A=P(1+ r/n )nt   where A=final amount  P=principal or initial amount r=annual…

Q: If you invest $2,593 compounded annually at 8.5%, how long will it take to double your investment?

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Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: Jocelyn invested $56,000 in an account paying an interest rate compounded continuously. Oliver…

A: JocelynA=P1+R12002Twhere A=amount, P=principal amount, R=rate of intereset and T=time…

Q: $1000 is invested at 6% compounded yearly. According to the rule of 72, how many years will it take…

A: We can find the required time period as below.

Q: To have $4400 in 4 years, how much do you need to invest now at 7.4% compounded semi- annually?

A:

Q: at what nominal rate, compounded monthly, would $13000 have to be invested to amount 22,716.49 in 7…

A: When the interest is compounded, then the formula used is , where, A is the final amount, P is the…

Q: How long will it take to triple the sum of money invested at 12% compounded monthly?

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Q: If you invest $2090 compounded annually at 9.2%, how long will it take to double your investment?…

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Q: How long will it take for a deposit of $3000 to grow into $10,000 at 8.4% compounded yearly

A:

Q: How long will it take an investment of $8,000 to grow to $10,000 if the investment earns interest at…

A: The compound interest formula ( if the interest is compounded on daily basis) is given by:

Q: At what nominal rate, compounded every 2 months, would $7,000.00 have to be invested to amount to…

A: Compound Interest: The formula for the compound interest is given by, Where A is the final Amount,…

Q: A principal of $4900 is invested at 7.75% interest, compounded annually. How much will the…

A: A principal of $4900 is invested at 7.75% interest, compounded annually.

Q: A principal of $3000 is invested at 3.25% interest, compounded annually. How much will the…

A:

Q: How long would it take for any amount of money,compounded continuously at 5.75% per year, to…

A: Given that,  An investment is compounded continuously at 5.75% interest rate per year.  To find the…

Q: How long would it take for an investment to at least double its original amount at 3.62% compounded…

A: NOTE: Refresh your page if you can't see any equations. . here we have  r=3.62%=0.0362 n=12 for a…

Q: Evan is going to invest in an account paying an interest rate of 5.4% compounded annually. How much…

A: Final amount = Principal amount + InterestFinal amount = P+P(1+rn)ntn=1 (compounded annually)Final…

Q: A principal of $4400 is invested at 6.25% interest, compounded annually. How much will the…

A:

Q: How much will P54,200 be in 24 months at 4% compounded monthly?

A:

Q: How long will it take $10,000 to grow to $15,000 if the investment earns an interest rate of 12% per…

A:

Q: how much money should be invested now in order to have $18,000 in 4 years if the investment earns…

A: A=Final Amount=$18000 t=Number of time periods elapsed=4 years r=Interest Rate=5.4%=0.054 n=Number…

Q: How much money should be invested monthly at 6% per year, compounded monthly, to have $2000 in 8…

A:

Q: How much will you need to put away to get 700 after 9 years at 6% compounded monthly?

A: A=700 Time = 9 years ROI = 6% = 0.06 n=12 ( Compounded monthly)

Q: How long will it take for P65, 000 to amount to P98, 400 if compounded quarterly at 10.24% interest?

A:

Q: triple itself a

A: Assume, we have 'x' amount as a principal amount. Now, our goal is to find time t after which amount…

Q: $15,000 is invested for 15 years with an APR of 4.2% and monthly compounding.

A: We have to solve the given problem by using compound interest formula.

Q: Mike and Terri estimate that they want to buy a house for $174,000.00, and they need to make a down…

A: Given data:   The given cost of a house is C=$174,000.00. The given percentage of the down payment…

Q: Suppose $9500 is invested at 6% interest, compounded annually.  Approximately how long will it take…

A: Given Principal =$9500  rate =6% compounded annually Amount = $12,000

Q: How long will it take to triple an investment at 4.6 percent per year, compounded quarterly? Round…

A:

Q: An investment of $2000 grows at a rate of 3% per year, compounded quarterly. How long will it take…

A: topic - compound interest

Q: P30,000 is invested for a period of 3 years at a rate of 6%, compounded 2 times per year. What will…

A: Given query is to find the amount after 3 years.

Q: How long does it take the amount of money in your wallet to triple if it is invested at 7% interest,…

A: Let initial amount = P So, final amount = A= 3P Interest rate= 7%= 0.07  n= number of times…

Q: Nancy wants to invest $4000 in saving certificates that bear an interest rate of 9.75% per year,…

A: Given: Nancy wants to invest $4000 in saving certificates that bear an invest rateof 9.75% per year,…

Q: A 3% compounded bi-monthly has an equivalent rate of 1.508%,how many times does it pay every year? O…

A:

Q: A principal of $4500 is invested at 6.5% interest, compounded annually. How much will the investment…

A: As per our guidelines we are supposed to answer one question , kindly repost the remaining question…

Q: How much will you need to put away to get 1500 after 13 years at 9% compounded monthly?

A:

Q: if 25,000 is invested at 12%, How much will it be worth after 5 years if it is compounded annually?

A: Remember that, Compound interest (or compounding interest) is the interest on a loan or deposit…

Q: Carly wants to invest $1000 in an account that earns 8% interest, compounded quarterly. How many…

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Q: If you invest $1000 at 7% annual interest compounded monthly, how many years will it take for the…

A: let invest amount is P annual rate is r month n =12 years = t amount after t years is A =3000 A =…

Q: How long (in years and months) will it take for an investment to double at 3% compounded monthly?

A: If you like the solution then please give it a thumbs up.. The Answer is:     Result = 23.45  It…

Q: A couple needs $23,335.13 as a down payment for a home. If they invested the $7,000.00 they have at…

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