You expect to receive $30,000 at graduation in two years. You plan on investing it at 9 percent until you have $165,000 How long will you wait from now?
You expect to receive $30,000 at graduation in two years. You plan on investing it at 9 percent until you have $165,000 How long will you wait from now?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
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You expect to receive $30,000 at graduation in two years. You plan on investing it at 9 percent until you have $165,000
How long will you wait from now?
Expert Solution
Step 1
We have to calculate period required and add two years to that .
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An investment offers to triple your money in 24 months (don’t believe it). What rate per three months are you being offered?
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