Question: Find the interest rate with annual compounding that makes the
Find the interest rate (with annual compounding) that makes the statement true (rounded to the nearest dollar) $8,500 grows to $12,161 in 7 years.
Answer to relevant QuestionsFind the compound amount of $25,000 is invested at 6% compounded continuously for the following number of years. The consumption of electricity has increased historically at 6% per year. If it continues to increase at this rate indefinitely, find the number of years before the electridc utilities will need to double their generating ...You have just won the lottery. You will receive $1,000,000 today, and then receive 40 payments of $500,000. These payments will start one year from now and will be paid every six months. A representative from Greenleaf ...You just opened a retirement account with a $5,000 deposit. Assuming that you can earn an 8% annual return (and that you make no additional deposits), what will this account be worth when you retire in 35 years? Now, ...1. The 6 percent annual coupon bonds of Greentree, Inc. are selling for $1,020, have a face value of $1,000, and have a yield to maturity of 5.43 percent. How many years will it be until these bonds mature?2. A 7 percent ...
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