Suppose that inflation is 4% per year. How long will it take for prices to double?

Q: Suppose you put a $1000 in a college fund that pays 7.2% interest compounded annually. Find the…

A: In the given problem, The principle amount is p = $1000 The rate of interest is r = 7.2% And, the…

Q: Suppose your salary in 2012 is $70,000. Assuming an annual inflation rate of 7%, what salary do you…

A: Given that the salary in 2012 is $ 70,000 and inflation rate 7 % So, Inflation rate (r) = 7 %=0.07…

Q: If a 3D printer increased in cost at exactly the inflation rate, what was the inflation rate if the…

A: Assume that inflation rate is r%. Since, price of printer has become twice in three years:…

Q: At an annual inflation rate of 7.1%, how long will it take the Consumer Price Index (CPI) to double?…

A: To determine how long it will take the CPI to double at an annual inflation rate of 7.1%.

Q: Capitec bank announced that their saving account would pay a nominal interest rate of 11% p.a…

A: The effective interest rate for a period is the interest paid for the specific amount of time or…

Q: Find the effective rate of the interest that is equivalent to an 9% rate compounded monthly.

A: Effective rate of interest :   The Effective Annual Interest Rate (EAR) is the interest rate that is…

Q: The........................................ is the equivalent annual simple interest rate that would…

A: Solution:GivenThe........................................ is the equivalent annual simple interest…

Q: Suppose $22,000 is invested in an account with an APR of 5.3%. a. If the interest is compounded…

A: Given: P=$22000 R=5.3% annually T= 6 years a) Compounded annually n=1 A=P1+R100nnT…

Q: What nominal rate of interest, compounded monthly, corresponds to an  effective rate of 4.5% ?

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Suppose that you invested in a mutual fund that guaranteed 6.5% annual interest, compounded monthly.…

A: given p=principle=$3500r=rate per annum=6.5%n=4 =time we have find A…

Q: If the average annual inflation rate is 3.1%, how long will it take for the CPI index to double? (A…

A: Given: the average annual inflation rate is 3.1% To find: how long it will take for the CPI index to…

Q: Assume the inflation rate is constant at 3.5% and applied at the beginning of every year. If the…

A: Consider that the inflation rate is constant at 3.5% and is applied at the beginning of every year.…

Q: If the inflation rate averages 3%, how much will $1000 purchase in 2 years?

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Q: What is the simple interest rate on a $1350 investment paying $319.82 interest in 10.3 years?  %…

A:

Q: What annual rate of interest compounded annually is required to double an investment in 7 years?…

A: The formula to calculate compound interest is A = P ( 1 + r/n )t*n

Q: find what simple interest rate will be necessary for sonny to get a 50% return on a $500 investment…

A:

Q: Suppose you invest $500 in a savings account that pays 3.5% annual interest. How much will be in the…

A: Given,          Suppose you invest $500 in a savings account that pays 3.5% annual interest,…

Q: Find the time it would take for the general level of prices in the economy to double at the average…

A: To use the exponential model with the given data to find the required time

Q: Suppose you want to have $400,000 for retirement in 35 years. Your account earns 5% interest. how…

A:

Q: What rate of interest compounded annually is required totriple an investment in 5 years?

A: Suppose the rate is  r at which the investment is triple in 5 years compounded annually.

Q: If the inflation rate is 4% compounded annually, how long will it take for prices to double? years…

A:

Q: 60. Inflation Ifthe amount that $1000 will purchase is only $930 after 2 years, what was the average…

A: Given :          If the amount that $1000 will purchase is only $930 after 2 years.   To find the…

Q: Find the time it would take for the general level of prices in the economy to double at an average…

A:

Q: Use the rule of 70 to estimate the years to double at an inflation rate of 4%.

A: Here, rate= 4

Q: What interest rate, to the nearest tenth of a percent, is required for an investment subject to…

A: Let P be the principal amount.

Q: Suppose a credit card has an APR of 22.41% and changes its compounding period from daily to monthly.…

A: Suppose a credit card has anAPR of 22.41% and changes itscompounding period from dailyto monthly.…

Q: Find the time it would take for the general level of prices in the economy to double at an average…

A:

Q: At what rate of simple interest an amount will double itself on 10 years?

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Q: no given value so i was thinking of doing 1000? =3p a little confused

A: Take the present value as P, so the future value will become 3P. A(t) = P[1+r/n]nt P= present value…

Q: Find the rate of interest if N2,800 gains N600 in 5 years

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Q: A machine is valued at $10,000. If the depreciation at the end of each year is 20% of its value at…

A:

Q: At what rate is the account growing?

A:

Q: If the current CPI is 234.2 and the average annual inflation rate is 2.8%, what will be the CPI in 5…

A: The term CPI is the Current Price Index, which represents the relative change in the price of a…

Q: What present value amounts to $7,000 if it is invested for 18 months at 4% simple interest?

A: Amount = $7000 Time = 18 months = 1.5 year Rate = 4% = 0.04 Interest = Amount × Time × Rate

Q: If the amount that $1000 will purchase is only $930 after 2 years, what was the average inflation…

A: The amount A that $P will purchase after n years if the inflation averages a rate of r over n years…

Q: Suppose that inflation is 4% per year. How long will it take for prices to double?

A:

Q: If the amount that $1000 will purchase is only $950 after 2 years, what was the average inflation…

A: The inflation rate is the rate of change, or increase or decrease in the price of a commodity over a…

Q: 3. Dave bought a car 8 years ago for $5400. To buy a similar car today would cost $12,500. Assuming…

A:

Q: In 1998 the annual cost of attending a public college was $10,069, and the costs were climbing by 6%…

A:

Q: How much interest will you have to pay for a credit card balance of $660 that is 1 month overdue, if…

A: I have stated the used formula in the solution

Q: If the inflation rate is 4.85% compounded annually, how long will it take for prices to double?

A:

Q: 2) 2) Susan purchased a painting in the year 2000 for $5000. Assuming a continuous exponential rate…

A: We can find the worth of the painting after 8yr as below

Q: What annual interest rate compounded continuously is equivalent to 15% compounded quarterly?

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Q: find the missing values assuming continuouslycompounded interest. Initial…

A: Given that:  Initial investment, P=$750Annual rate of interest, r=1012%…

Q: If the inflation rate is 5.15% compounded annually, how long will it take for prices to double? Give…

A: F=P*(1+ 0.0515)n  Let P=1Let F=2*1Formula becomes:2=1*(1.0515)n

Q: Assume that cost of a gallon of milk is $3.00. With continious compounding, find the time it would…

A:

Q: What monthly interest rate equals a quarterly interest rate of 2%? Give your answer as a decimal…

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Q: A machine is valued at $10,000. If the depreciation at the end of each year is 10% of its value at…

A:

Q: If the annual rate of inflation is 4%, find the price of a good at the end of a year if its price at…

A: Let the price at the end of the year is x then by the formula of inflation x-2525×100=4% Because…

Q: Suppose your salary in 2014 is $75,000 at the annual inflation rate is 6% what salary do you need to…

A: Given, Salary in 2014 = 75000 Inflation = 6%