$1500 is invested in an account that accrues 2% interest. How many years will it take for...

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

Question:

$1500 is invested in an account that accrues 2% interest. How many years will it take for the account balance to reach $5000?

Related Book For answer-question

Introduction to Corporate Finance What Companies Do

ISBN: 978-1111222284

3rd edition

Authors: John Graham, Scott Smart

See More Books

Posted Date: Feb 26, 2024 01:37 AM

See More Questions

Calculate all of the problems in the document below in an Excel spreadsheet or on a financial calculator. Please show your work in order to get credit. For each problem, state the inputs given, what...
You have saved $10,000 toward a down payment on a home. The money is invested in an account earning 7% interest. You will be ready to purchase the new home once your savings account grows to $25,000....
Consider the valve failure data in Example 7.6. Set up a one-sided CUSUM chart for monitoring and detecting an increase in failure rate of the valve. Assume that the target value of the mean time...
In 2016, Susan's sole proprietorship earns $300,000 of self-employment net income (after the deduction for one-half of self-employment tax). a. Calculate the maximum amount that Susan can deduct for...
A clinical trial compares the new drug described in Exercise 1 to aspirin. The group using the new drug had somewhat fewer heart attacks than those in the aspirin group. a) The P-value from the...
Identify the mode for each of the following sets of data: a. 6, 2, 7, 6, 6, 4 b. 13, 19, 12, 13, 7, 13, 20, 13, 15 c. 4, 2, 5, 1, 2, 2, 5, 5, 3, 1, 5, 2, 6, 3 d. 40, 10, 35, 30, 10, 25, 5, 10, 15,...
Not included in the table below is a diamond with a weight of 1.50 carats. Find the best predicted price for this diamond. Is the result close to the actual price of $16,097? What is wrong with...
Image transcription text 22 21.9615 0.6588 4.0606 0.3248 0.4648 35.1371 0./891 16 15.7412 0.4739 2.6706 0.3107 0.4507 35.1685 0.0258 10 9.9197 0.2982 1.4440 0.2890 0.4291 35.2908 0.0166 6 6.6168...
Macon Machines Company began operations on November 1, 2024. The main operating goal of the company is to sell high end robots. Customers may pay using cash or if appropriate, credit is extended to...
We have the following tables which creates statement are create table supplier(S_NO int identity(1,1), SUP_ID varchar(50) primary key,SUP_NAME varchar (50), SUP_ADD varchar (50), SUP_NIC int, rank...
What is the J curve? What explains the behavior of net exports represented by the J curve?
Describe three alternative responses available to policymakers when the economy is in recession. What are the advantages and disadvantages of each strategy? Be sure to discuss the effects on...
After the financial crisis reached Europe in 2008, a lot of EU citizens sold their euro investments and converted the money into Swiss francs or gold. Why did they do this? What impact did this have...
During a recession, some workers would urge the government to increase its purchases temporarily (for example, by building roads) so as to increase employment and raise wages. If you were a classical...
How does each of the following variables behave over the business cycle? Develop graphs to show your results and give economic explanations. a. Real imports b. Federal government receipts c. Housing...
what would happen if Domino's pizza and pizza hut were to collaborate with different companies? How would it affect to companies improvement? would it create competition between both companies? if...
Problem 2. (0.6 points, 0.2 points for each question) (a) A company turns its inventory 2 times a month. Its months-of-supply = Its days-of-supply = Please show your analysis below: _months. days. (1...
List the federal laws regulating antitrust and anticompetitive mergers. What are the actions governed by each law? How do the regulatory agencies determine anti competitiveness?
A bond makes annual interest payments of $75. The bond matures in 4 years, has a par value of $1,000, and sells for $975.30. What is the bonds yield to maturity (YTM)?
Hill Propane Distributors wants to construct a pro forma balance sheet for 2013. Build the statement using the following data and assumptions: 1. Projected sales for 2013 are $35 million. 2. Hills...
From the following figures, compile accounts receivable ledger and accounts payable ledger control accounts for the month, and ascertain what the net balances of the respective ledgers should be on...
Why may some people consider this to be incorrect? That is, why is the fact that the control account is kept in the General Ledger not enough to justify saying that the control account is part of the...
The financial year of The Better Trading Company ended on 30 November 2014. You have been asked to prepare a Total Accounts Receivable Account and a Total Accounts Payable Account in order to produce...

$1500 is invested in an account that accrues 2% interest. How many years will it take for...

Question:

Expert Answer:

It would take approximately 61 years for the account balance to reach ... View the full answer

Introduction to Corporate Finance What Companies Do

Students also viewed these economics questions