The time it would take for a given sum of money to double at 4% per year
Question:
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
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (15 reviews)
Answer b 25 years Explanation lets say the principleP is x Given Rate of interestR is 4 we kn...View the full answer
Answered By
Sudeep goli
I have completed my graduation in 2019 and I'm very confident on computer science fundamentals, I used to teach when I'm studying ,roughly 7 months of teaching experience as of now. I take simple examples related to daily life to make the concepts clear and more understandable.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Consider an economy with three consumers and two goods r1 and r2. They all have the following utility function u' (ri, 2) = max{r, r}, for i = 1,2,3. All agents have an endowment of 3 units of each...
-
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
-
If you had a nontrivial sum of money to invest and decided to invest it in a country index fund, in which country or countries identified in Exhibit 1-7 would you invest your money? What accounting...
-
Calculate the half life potential for Zn electrode is 0.01M Zn(NO 3 ) 2. Given that Zn 2+ + 2e= Zn E o = 0.763
-
How many row equivalence classes are there?
-
Create a portfolio of at least two options on the same futures and evaluate the position in terms of the position's OPM value, delta, gamma, and theta. On the OVME screen, click the + icon next to...
-
A viscous oil with a specific gravity \(S G=0.85\) and a viscosity of \(0.10 \mathrm{~Pa} \cdot \mathrm{s}\) flows from tank \(A\) to \(\operatorname{tank} B\) through the six rectangular slots...
-
Melissa Ostwerk, the new controller of TurboDrives, Inc., has just returned from a seminar on the choice of the activity level in the predetermined overhead rate. Even though the subject did not...
-
1)Write a javascript program to display 1 to 100 prime numbers ? 2) Difference between render and re-render ? 3)What is map() method ? 4)What is filter() method ? 5)What is reduce() method? 6)What is...
-
What are some of the challenges Tableau will face as it hires 1,000 new employees in one year?
-
The following annual maintenance and operation (M&O) costs for a piece of equipment were collected over a 5-year period: $12,300, $8900, $9200, $11,000, and $12,100. The average is $10,700. In...
-
To finance a new project costing $30 million, a company borrowed $21 million at 16% per year interest and used retained earnings valued at 12% per year for the remainder of the investment. The...
-
The data in FedReceipt represent federal receipts from 1978 through 2009, in billions of current dollars, from individual and corporate income tax, social insurance, excise tax, estate and gift tax,...
-
Analyse the relationship between a country's Gini coefficient and its Lorenz curve.
-
The dean of a school of nursing (SON) and the associate deans of undergraduate and graduate programs have experienced increasing frustration with a lack of clinical placements for the students. The...
-
a. Why are more municipal bonds insured today than in 1970? b. In your view, would the typical AAA rated municipal bond be insured?
-
A country increases its indirect tax rate. Using a Lorenz curve diagram, explain how this may impact the country's distribution of income. (HL and SL)
-
At what loss of volume should you take action to enable the sustainability of the organization and its long-term mission? What steps can you take to align expenses with anticipated volumes without...
-
Use a sweep through purge to reduce the oxygen concentration from \(100 \%\) air ( \(21 \%\) oxygen) to \(1.25 \%\) oxygen. The vessel has a volume of 7500 gallon. Determine the \(\mathrm{ft}^{3}\)...
-
Nike manufactures shoes and sportswear. How has the Internet changed the way this company communicates with its suppliers and retail customers?
-
What does the following method output? A. The code does not compile. B. The method completes with no output. C. The method prints 0 and then terminates. D. The method enters an infinite loop. E. None...
-
If you borrow $5,000 to buy a car at 6% compounded monthly, to be repaid over the next five years, what is your monthly payment? (a) $81.7 (b) $96.5 (c) $112 (d) $89 (e) $104
-
If you invest $7,000 at 12% compounded continuously, how much would it be worth in three years? (a) $9,449 (b) $4,883 (c) $10,033 (d) $9,834 (e) $2,520
-
Mr. Smith has saved $1,200 each year for 20 years. A year after the saving period ended, Mr. Smith withdrew $7,500 each year for a period of five years. In the sixth and seventh years, he only...
-
A corporation issues 13 %, 15-year bonds with a par value of $570,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 11%, which implies a selling price...
-
If you were asked whether a large university such as Tennessee or Michigan with a large seating capacity for their football stadiums should build a new football stadium, how would you respond and...
-
A production department reports the following conversion costs. Equivalent units of production for conversion total 436,000 units this period. Calculate the cost per equivalent unit of production for...
Study smarter with the SolutionInn App