To the closest year, how long will it take a $200 investment to double if it earns 7 percent interest? How long will it take if the investment earns 18 percent?
Answer to relevant QuestionsMartell Corporation’s 2015 sales were $12 million. Sales were $6 million five years earlier. To the nearest percentage point, at what rate have sales grown?Sue wants to buy a car that costs $12,000. She has arranged to borrow the total purchase price of the car from her credit union at a simple interest rate equal to 12 percent. The loan requires quarterly payments for a period ...What is the present value of $1,552.90 due in 10 years at (1) A 12 percent discount rate (2) A 6 percent rate?To complete your last year in business school and then go through law school, you will need $30,000 per year for four years, starting next year (that is, you will need to withdraw the first $30,000 one year from today). Your ...Assume that your aunt sold her house on January 1 and that she took a mortgage in the amount of $10,000 as part of the payment. The mortgage has a quoted (or simple) interest rate of 10 percent, but it calls for payments ...
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