A $1,000 investment has doubled to $2,000 in 8 years because of a 9 percent rate of

Question:

A $1,000 investment has doubled to $2,000 in 8 years because of a 9 percent rate of return. How much longer will it take for the investment to reach $4,000 if it continues to earn a 9 percent rate?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Finance Applications and Theory

ISBN: 978-0077861681

3rd edition

Authors: Marcia Cornett, Troy Adair

See More Books

Question Posted: Sep 23, 2014 10:24 AM

See More Questions

How long will it take for the U.S. population to double if it continues to grow at a rate of 0.975% per year?
How much longer will it take month-end RRSP contributions of $500 to accumulate $500,000 than month-end contributions of $550? Assume that the RRSP earns 7.5% compounded monthly. Round the time...
How much longer will it take to pay off a $100,000 loan with monthly payments of $1000 than with monthly payments of $1100? The interest rate on the loan is 10.5% compounded monthly.
The following scatter plot indicates that 200 150 > 100 50 0 0 20 X 40 O a log x transform may be useful Oa y transform may be useful a x transform may be useful Ono transform is needed Oa 1/x...
Break the following sentences into shorter ones by adding more periods and revise as needed for smooth flow: a. The next time you write something, check your average sentence length in a 100-word...
Suppose Wesley Publishings stock has a volatility of 55%, while Addison Printings stock has a volatility of 20%. If the correlation between these stocks is 30%, what is the volatility of the...
Why is the range value affected by outliers?
Sophia is a contestant on a game show and has selected the prize that lies behind door number 3. The shows host tells her that there is a 50 percent chance that there is a $15,000 diamond ring behind...
InstaChat Company had a beginning retained earnings balance of $80,000 and an ending retained earnings balance of $60,000. In the current period the company had revenues of $110,000 and expenses of...
Excel template below: Jody wishes to use the forecast just developed to help make an Aggregate Production Plan that will then become a Master Production Schedule and drive a Materials Requirements...
Without making any computations, indicate which of each pair has a higher interest rate? a. $100 doubles to $200 in 5 years or 7 years. b. $500 increases in 4 years to $750 or to $800. c. $300...
What do you think about the following statement? I am going to receive $100 two years from now and $200 three years from now, so I am getting a $300 future value. How could the two cash flows be...
Verify the Divergence Theorem by evaluating as a surface integral and as a triple integral. SS ISJ F. NdS
Say that the ultimatum game described in the chapter was changed so that the first individual could keep the money regardless of whether the offer was accepted by the second individual or not. a....
Distinguish the basis of judgment for the Standard Oil and the ALCOA cases.
You are buying your spouse, significant other, or close friend a ring. You decide to show your reasonableness and buy a cubic zirconium ring that sells at 150 the cost of a mined diamond and that any...
Read the following article about land tenure issues in South East Asia: http://www.fao.org/docrep/009/a0306t/A0306T04.htm#ch3. What connections can you draw between the discussion in this chapter on...
In which market structure would women likely be most successful? Why? (Feminist)
Write a balanced chemical equation for each reaction. (a) The reaction between potassium metal and bromine gas (b) The reaction between rubidium metal and liquid water (c) The reaction between...
What are the main distinctions between the different schools of legal interpretation?
Let $B_{t}=\left(b_{t}, \beta_{t}ight), t \geqslant 0$, be a two-dimensional Brownian motion, i.e. $\left(b_{t}ight)_{t \geqslant 0},\left(\beta_{t}ight)_{t \geqslant 0}$ are independent...
Assume that your aunt sold her house on December 31 and that she took a mortgage in the amount of $10,000 as part of the payment. The mortgage has a quoted (or nominal) interest rate of 10 percent,...
Your company is planning to borrow $1,000,000 on a 5-year, 15%, annual payment, fully amortized term loan. What fraction of the payment made at the end of the second year will represent repayment of...
a. It is now January 1. You plan to make 5 deposits of $100 each, one every 6 months, with the first payment being made today. If the bank pays a nominal interest rate of 12 percent but uses...
Hall & Company issues $ 1 0 0 , 0 0 0 , 0 0 0 in 6 % bonds with detachable warrants of 1 0 warrants for each $ 1 , 0 0 0 bond. The bonds are issued at 9 9 . Record the issuance under the following...
Assume that hein acquired Dolan Development last year. Hein recorded the following intangible assets on the date of acquisition: Goodwill: $ 1 , 5 0 0 , 0 0 0 Dolan Development trademark: $ 6 0 0 , 0...
What is the total amount of interest that will be paid of the loan is carried to term with no extra payments made building cost 3 3 0 0 0 0 . loan started im Dec 2 0 2 3 worh a 7 . 5 % interest rate...

A $1,000 investment has doubled to $2,000 in 8 years because of a 9 percent rate of

Question:

Step by Step Answer:

The Rule of 72 predicted that 1000 will double to 2000 in 8 years at 9 percent interest Another do...View the full answer

Finance Applications and Theory

Students also viewed these Finance questions