Twenty years ago, Michael invested $5000. His investment has grown to $15,817.36. Determine the nominal rate of

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

Question:

Twenty years ago, Michael invested $5000. His investment has grown to $15,817.36. Determine the nominal rate of interest, compounded quarterly, that he received?

Related Book For answer-question

Principles Of Managerial Finance

ISBN: 978-0136119463

13th Edition

Authors: Lawrence J. Gitman, Chad J. Zutter

See More Books

Posted Date: May 03, 2020 05:59 AM

See More Questions

What is the nominal rate of interest compounded quarterly if the effective rate of interest on an investment is 5.3%?
What is the nominal rate of interest compounded quarterly at which payments of $400 made at the beginning of every six months accumulate to $8400 in eight years?
At what nominal rate of interest compounded quarterly will $300 earn $80 interest in six years?
What are the advantages and disadvantages of seismic reflection data sets?
For each of the following matrices, find a matrix of the form described in Theorem 2.12 that is equivalent to the given matrix: (a) (b) (c) (d) 43323 12412 21101 15225 113 231 122 123 231 123 2135...
datasets: https://drive.google.com/file/d/1nMT87jByEa3w7neuVJefcdxT9q_6Tdg2/view?usp=share_link https://drive.google.com/file/d/15lgjJx1X-z-k3bw1YrV7u7TCNqmxUUq6/view?usp=share_link...
Brian Rafferty ingested finasteride, a drug prescribed to him to treat an enlarged prostate. Finasteride is a generic version of Proscar, a drug manufactured by Merck. Some time after he started to...
In the audit of the Worldwide Wholesale Company, you did extensive ratio and trend analysis. No material exceptions were discovered except for the following: 1. Commission expense as a percent of...
1. A ray of light enters glass (index 1.570) from air at an incident angle of 25. Find the angles of refraction and of deviation. 2. A light ray is directed through air (index 1.000) at a 25 angle of...
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,540 in assets to launch the business. On December 31, the company's records show the following items...
The WSJ reports on December 4 that a company tied to a Chinese university, Peking University Founder Group (PUFG), failed to repay some bondholders on time. PUFG aims to repay the bonds within a...
4. What is the molecular weight of the gas for an object having a velocity of 33.33 kilometers per one minute. Also, the static temperature of the gas is at 555 degree Rankine. Assume flow to be...
1) Describe Compliance-Based codes of ethics. 2) Describe Integrity-Based codes of ethics. 3) Find an example of a compliance-based and of an integrity-based code of ethics. Examine the differences...
nurse-manager has implemented an organizational change to the admission guidelines which will affect the nurse's workflow. What factors are the greatest contributor to resistance encountered with...
what are the storage temperature of acc0mpaaniments, marinades, flavorings and sauces mixtures prepared for: 1. tonkotsu ramen stock 2. pho stock 3. oxtail soup (kkori gomtang) 4 .veg stock(clear...
Read each direction below carefully and make certain you fully label any graphs, including equilibrium price level and aggregate output. (a) An economy is currently operating in long-run equilibrium....
Products displayed in locked security cabinets at a Walgreens in San Francisco " data-image-description="" data-image-title="shrinkage"...
In the current year, the City of Omaha donates land worth $500,000 to Ace Corporation to induce it to locate in Omaha and create an estimated 2,000 jobs for its citizens. a. How much income, if any,...
Zane Perelli currently has $100 that he can spend today on polo shirts costing $25 each. Alternatively, he could invest the $100 in a risk-free U.S. Treasury security that is expected to earn a 9%...
From the point of view of a U.S.-based MNC, what key tax factors need to be considered?
A manager at a check into cash business defends his business practice as simply charging what the market will bear. After all, says the manager, we dont force people to come in the door. How would...
The Lorenz curve for Bangladesh looks like this: How much income do individuals in the top income quintile in Bangladesh receive? Cumulative percentage of income 58.7% 37.4 21.3 8.9 20 40 60 80 100%...
What would the Lorenz curve for lawyers represent?
The accompanying table shows income distribution data for three countries: a. Using this information, draw a Lorenz curve for each country. b. Which country has the most equal distribution of income?...

Twenty years ago, Michael invested $5000. His investment has grown to $15,817.36. Determine the nominal rate of

Question:

Expert Answer:

20 years Principal5000 Amount1581736 Compo... View the full answer

Principles Of Managerial Finance

Students also viewed these mathematics questions