The time it would take for money to double at a simple interest rate of 5% per
Question:
The time it would take for money to double at a simple interest rate of 5% per year is closest to:
(a) 10 years
(b) 12 years
(c) 15 years
(d ) 20 years
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
d F P Pni 2P P ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The time it would take for a given sum of money to double at 4% per year simple interest is closest to: (a) 30 years (b) 25 years (c) 20 years (d) 10 years
-
Johnson & Johnson sells a diverse array of products, including baby care, first aid and surgical products, prescription drugs, and industrial products. It operates in a decentralized fashion through...
-
Start with $350,000 savings. Prepare calculations to compare the "rule of 72" estimated time for money to double with the actual time it takes for money to double, for the following interest rates:...
-
Consider a portfolio of the following derivatives where the counterparty is an OECD bank. Derivative 8-year interest rate swap 6-month option on an equity 1-year swap on precious metals 9-month...
-
Tech Support Services has the following unadjusted trial balance as of January 31, 2019: The debit and credit totals are not equal as a result of the following errors: a. The cash entered on the...
-
For Exercises state whether the variable is discrete or continuous. The number of mathematics majors in your school
-
A linear elastic fiber of rectangular cross section is embedded in a linear elastic matrix material, and the composite is subjected to a uniaxial stress as shown in Figure 6.25a. The interfacial...
-
On December 31, 2011, Debenham Corporation sold for $15,000 an old machine having an original cost of $84,000 and a book value of $9,000. The terms of the sale were as follows: $3,000 down payment,...
-
The following events occur for Wainwright Engineering during 2024 and 2025, its first two years of operations. February 2, 2024 July 23, 2024 December 31, 2024 April 12, 2025 June 28, 2025 September...
-
Suppose that a learning algorithm is trying to find a consistent hypothesis when the classifications of examples are actually random. There are u Boolean attributes, and examples are drawn uniformly...
-
Compute the integral of cos (x 2 ) from 0 to 1 by Simpsons rule with 2m = 4.
-
At a compound interest rate of 10% per year, the amount that $10,000 one year ago is equivalent to now is closest to: (a) $8264 (b) $9091 (c) $11,000 (d ) $12,100
-
Use integration by parts to compute the following definite integrals. Note that the equivalent indefinite integrals were considered in Example 6.9. Example 6.9 Use integration by parts to compute the...
-
If \(A x^{2}+C y^{2}+D x+E y+F=0\), for Problems 9-13, then list conditions on the constants to assure that the indicated graph results. an ellipse \(A\) and Chave the same signs
-
In Griffin v. California (1965), a case involving the rape and murder of a woman in a dark alley, the Supreme Court considered whether the following arguments by the prosecutor constituted...
-
Consider the model \[ y=\theta_{1}-\theta_{2} e^{-\theta_{3} x}+\varepsilon \] This is called the Mitcherlich equation, and it is often used in chemical engineering. For example, \(y\) may be yield...
-
Suppose the probabilities are 0.89,0.09, and 0.02 that the finish on a new car will be rated acceptable, easily repairable, or unacceptable. Find the probability that, among 20 cars painted one...
-
The probabilities that a quality control team will visit \(0,1,2,3\), or 4 production sites on a single day are 0.15,0.22,0.35,0.21, and 0.07. (a) Simulate the inspection team's visits on 30 days....
-
In which 120-V light bulb does the filament have greater resistance: a 60-W bulb or a 120-W bulb? If the two bulbs are connected to a 120-V line in series, through which bulb will there be the...
-
Reread the discussion leading to the result given in (7). Does the matrix sI - A always have an inverse? Discuss.
-
For country 2, MACRS depreciation for 4 years is $33,333, $44,444, $14,815, and $7407, respectively. Determine the (a) CFAT series (b) PW of depreciation, taxes, and CFAT series. Open Access, Inc. is...
-
For country 3, DDB depreciation for 5 years is $40,000, $24,000, $14,400, $1600, and 0, respectively. Determine the (a) CFAT series (b) PW of depreciation, taxes, and CFAT series. Open Access, Inc....
-
If you worked Problems through, develop a table that summarizes, for each country, the total taxes paid and the PW values of the depreciation, taxes, and CFAT series. For each criterion, select the...
-
Assume you have a portfolio consisting of a $400,000 investment in stock A and a $600,000 investment in stock B. Suppose that the daily volatilities of these two assets are 2% and 1.5%, respectively,...
-
What is the role of education in promoting social mobility and reducing inequality, and how can educational systems be reformed to better serve diverse populations while preparing individuals for the...
-
A European call option and put option on a non-dividend paying stock both have a strike price of $51 and an expiration date in 6 months. The put sells for $2.50 and the call sells for $2. The...
Study smarter with the SolutionInn App