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?
Answer to relevant QuestionsWhat 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 compared or combined?What is the future value of $400 deposited for one year earning an interest rate of 9 percent per year?What is the present value of a $1,500 payment made in nine years when the discount rate is 8 percent?What is the value in year 3 of a $700 cash flow made in year 6 if interest rates are 10 percent?At age 25 you invest $1,500 that earns 8 percent each year. At age 40 you invest $1,500 that earns 11 percent per year. In which case would you have more money at age 65?
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