If you deposit money today in an account that pays 6.5% annual interest, how long will it

Question:

If you deposit money today in an account that pays 6.5% annual interest, how long will it take to double your money?

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

Step by Step Answer:

Related Book For book-img-for-question

Corporate Finance A Focused Approach

ISBN: 978-1439078082

4th Edition

Authors: Michael C. Ehrhardt, Eugene F. Brigham

See More Books

Question Posted: Sep 22, 2011 05:16 PM

See More Questions

How long will it take to build up a fund of $10 000 by saving $300 at the beginning of every 6 months at 4.5% compounded semi-annually?
If you deposit $207.86 in an account that pays 4% and leave it there for 12 years how much will you have in the accounts?
How long will it take to double an investment of $ 4,300 if the investment can generate an 8 percent return that is compounded semiannually?
Many states are now imposing severance taxes on resources being extracted within their borders. In order to understand the effect of these on the allocation of the mineral over time, assume a stable...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in thousands) for Peach Computers. Required: 1. Calculate each of the...
A random sample of five metal rods produced by a machine is taken. Each rod is tested for hardness. The results, in suitable units, are as follows. 524 526 520 523 530 i. Assuming a normal...
What are some of the disadvantages of using social media?
The December 31, 2012, statement of financial position for the Blood Donors of America Foundation is presented below. Statement of Financial Position December 31, 2012 Assets...
The Wolverine Corporation is working at full production capacity producing 9,000 units of a unique product, Everlast. Manufacturing cost per unit for Everlast is as follows: (Click the icon to view...
develop a summer tour schedule for the band that will maximize the attendance Case Problem SCHEDULING THE LEAD BALLOON'S SUMMER TOUR The Lead Balloon is a popular '80s rock band that broke up in the...
Your parents will retire in 18 years. They currently have $250,000, and they think they will need $1 million at retirement. What annual interest rate must they earn to reach their goal, assuming they...
You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $250,000. You expect to earn 12% annually on the...
Participation in the budget process is often viewed as way to improve the accuracy of the targets as well as encouraging managers to take responsibility for achieving the targets. Can you see any...
Ann Hopkins was a senior manager in the Management Advisory Services division of the Price Waterhouse Office of Government Services (OGS) in Washington, DC. After earning undergraduate and graduate...
Countless sermons have been preached and printed on the ethics of business or the ethics of the businessman. Most have nothing to do with business and little to do with ethics. One main topic is...
The U.S. Justice Department announced that it was dropping all charges against convicted former Alaska U.S. Senator, the late Ted Stevens. U.S. Attorney General Eric Holder announced that his office...
Since 2005, Claremont McKenna, ranked number nine on U.S. News \& World Report's best liberal arts colleges in the country, has been lopping on a few points here and there to its entering students'...
Valeant, a Canadian-based company, had a business model that was bound to attract public attention. Valeant's strategy was to purchase the rights to older prescription drugs, double (or more) the...
We will discuss bond defaults in greater detail in Chapter 8. In general, bond defaults tend to be correlated, but under certain circumstances, you may be able to assume that defaults are...
H.J. Heinzs annual dividends were as follows: 1990 ..............$0.540 1991.............. 0.620 1992 .............. 0.700 1993.............. 0.780 1994 .............. 0.860 1995 .............. 0.940...
Cow's milk produced near nuclear reactors can be tested for as little as 1.00 pCi of 131 I per liter, to check for possible reactor leakage. What mass of 131 I has this activity?
Why do public utilities generally use different capital structures than pharmaceutical companies?
Why is EBIT generally considered independent of financial leverage? Why might EBIT actually be affected by financial leverage at high debt levels?
Is the debt level that maximizes a firms expected EPS the same as the debt level that maximizes its stock price? Explain.
If a tax Bear has a vacation home, that is issues personally by the taxpayer for part of the year, and as a rental for part of the year, how are expenses reported on its tax return?
Christopher and Janai have a new grandson. How much money should they invest now so that he will have $78,000 for his college education in 18 years? The money is invested at 3.8% compounded...
Jonas' current annual salary is $70,000. Ten years from now how much will he need to earn to retain his present purchasing power if the rate of inflation over that period is 2% /year compounded...

If you deposit money today in an account that pays 6.5% annual interest, how long will it

Question:

Step by Step Answer:

With a financial calculato...View the full answer

Corporate Finance A Focused Approach

Students also viewed these Corporate Finance questions