How can the Rule of 72 be used to determine how long it will take for an investment to double in value?
Answer to relevant QuestionsBriefly describe how to solve for the interest rate or the time period in annuity problems. Go to the Federal Reserve Web site, http://www.federalreserve.gov. Click on the Consumer Information tab, and research consumer credit in the various hyperlinks. Find average interest rates charged by commercial banks on ...Find the present value (PV) of $7,000 to be received one year from now assuming a 3 percent annual discount interest rate. Also calculate the PV if the $7,000 is received after two years. Assume a bank loan requires an interest payment of $85 per year and a principal payment of $1,000 at the end of the loan’s eight-year life. a. How much could this loan be sold for to another bank if loans of similar ...Describe the relationship between internal and external financing in meeting the long-term financial needs of a firm.
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