An $1100 investment earning 6.3% compounded annually grew to $4483.92. What was the term of the investment?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
Given PV 1100 FV 448392 j 63 m 1 Since the compound...View the full answer
Answered By
Ajay Negi
Hi, I've completed my degree in engineering (Information Technology) from an NIT. Currently working as a software engineer. Wish to impart quality education to the future generation.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions

Use the tables in Appendix A to determine the answers to the following questions. Ignore taxes in all circumstances. a. Titus wishes to have $50,000 in 6 years. He can make an investment today that...

Exercises in compound interest, no income taxes. To be sure that you understand how to use the tables in Appendix B at the end of this book, solve the following exercises. Ignore income tax...

Which interest rate would you prefer to earn on a threeyear GIC: 6% compounded monthly, 6.1% compounded quarterly, 6.2% compounded semiannually, or 6.3% compounded annually?

The stockholders equity section of University Fashions is presented here. University Fashions Balance Sheet (Stockholders Equity Section) ($ in thousands) Stockholders equity: Preferred stock, $50...

Payne Company owns all the outstanding common stock of Sierra Company and 80% of the outstanding common stock of Santa Fe Company. The amount of intercompany profit included in the inventories of...

For reactions carried out under standardstate conditions, Equation (18.10) takes the form G = H  TS. (a) Assuming H and S are independent of temperature, derive the equation where K1 and K2 are the...

Do we use lots of codes in our personal and business lives? How many can your class name?

To help finance a major expansion, Castro Chemical Company sold a non callable bond several years ago that now has 20 years to maturity. This bond has a 9.25% annual coupon, paid semiannually, sells...

Zhang Industries sells a product for $700. Unit sales for May were 500 and each month's sales are expected to grow by 3%. Zhang pays a sales manager a monthly salary of $4,000 and a commission of 2%...

2. A pair of students forgets to precipitate the carbonate ions in their leaf compost jar's NaOH solution prior to the HCI titration. How would this affect the perceived amount of NaOH present in the...

Which investment scenario requires more time: $1 growing to $2 or $3 growing to $5? Both investments earn the same rate of return. Justify your choice.

A strip bond that will mature 7_1 years from now at its $13,000 face value can be 2 purchased today for $9042. What rate of return (compounded semiannually) will this strip bond provide to an...

Critically evaluate the idea of building teams with people from different backgrounds (for example a legal team with people from product and software development backgrounds). What could they bring...

Nequired information Exercise 517 (Static) Notes receivableinterest accrual and collection LO 56 (The following information applies to the questions displayed below) Agrico Incorporated accepted...

Case 143 Sarin Pharmaceuticals Ltd. Alan Mannik, director of procurement for the Sarin Phar maceuticals Ltd. (Sarin) Animal Health Division plant in Vancouver, British Columbia, was planning for...

CL727 LEGAL ANALYSIS AND WRITING Module 11 Assignment: Brief Answer, Analysis, and Conclusion This assignment will be due in Module 11. Your assignment is to write the Brief Answer, Analysis, and...

Question 11 (0.5 points) l) Listen } As a drug manufacturer, you expect your latest wonder drug to lower cholesterol. It has been successful with a limited group of participants so far, so you have...

Redfern Audio produces audio equipment including headphones. At the Campus Facility, it produces two wireless models, Standard and Enhanced, which differ both in the materials and components used and...

Discuss the factors to consider in the assessment of whether the derivatives contracts entered into by the parent accord itself with ownership interests over the underlying shares.

Suppose that the laptop of Prob. 2.16 is placed in an insulating briefcase with a fully charged battery, but it does not go into sleep mode, and the battery discharges as if the laptop were in use....

The beginning inventory at Continental Office Supplies and data on purchases and sales for a threemonth period are as follows: {Instructions} 1. Record the inventory, purchases, and cost of...

Bill Anderson buys an automobile every 2 years at follows: initially he makes a down payment of $600C on a $15,000 car. The balance is paid in 24 equal monthly payments with annual interest at 12%....

Alice White has arranged to buy some home recording equipment. She estimates that it will have a 5year useful life and no salvage value . The dealer, who is, friend, has offered Alice two...

Two mutually exclusive alternatives are being considered. One of the alternatives must be selected. Using a 15% nominal interest rate compounded continuously, determine which one. Solve by annual...

Production numbers for 2 shifts are shown. The shift supervisor of Shift 2 insists to the production manager that her operators are more productive than the ones on Shift 1. Using a confidence level...

In a class, the scores that students got are as shown. What are the 25, 50, 75 and 100th percentiles for the data? 84 84 98 80 89 83 85 56 85 84 84 74 84 81 83 80 45 86 67 79 81 78 76 85 83 77 86 83...

Number of points made by Teams A and B are shown. Which statement is true based on running the FTest TwoSample for Variances in the Data Analysis pack in Excel? Use a confidence level of 10% to...
Study smarter with the SolutionInn App