Question: How long will it take for $10,000, invested at 5% per year, compounded continuously, to triple in value?

How long will it take for $10,000, invested at 5% per year, compounded continuously, to triple in value?

Step by Step Solution

★★★★★

3.36 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

P 10000 F 30000 i 5 n F P e ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

7-B-E-M (644).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!

Q:

Choose a state or local public administration organization that receives public funding, such as public health services, social services, education, or public transportation. You will use this same...

Q:

How long will it take for monthly payments interest rate on the loan is: a. 6% compounded monthly? b. 7% compounded monthly? c. 8% compounded monthly? d. 9% compounded monthly

Q:

How long will it take for monthly payments interest rate on the loan is: a. 7.5% compounded annually? b. 7.5% compounded semiannually? c. 7.5% compounded quarterly? d. 7.5% compounded monthly?

Q:

How long will it take for money invested at 7.39% compounded continuously to double?

Q:

Suppose $5,000 is invested at 10% compounded semiannually (i.e., 2 times a year). (a) What will the accumulated amount be after 5 years? Exact accumulated amount (without using a calculator) =...

Q:

1. [-/3.44 Points] DETAILS SALGTRIG4 4.1.001. MY NOTES ASK YOUR TEACHER PRACTICE AN The function f(x) = 3* is an exponential function with base ; f( -2 ) = , f(0 ) = f (2 ) = and f(6) = Need Help?...

Q:

1. [-/3.44 Points] DETAILS SALGTRIG4 4.1.001. MY NOTES ASK YOUR TEACHER PRACTICE AN The function f(x) = 3* is an exponential function with base ; f( -2 ) = , f(0 ) = f (2 ) = and f(6) = Need Help?...

Q:

1. Determine the interest rate / needed for an investment to quadruple in value in 2 years if interest is compounded continuously. Exact interest rate (without using a calculator), r = (Exact...

Q:

Please answer all questions. Thank you. P=$1300,r=321%,t=5, compounded annually A=$ Find the present value of $80,000 due in 4 years at the given rate of interest. (Use a 365 -day year. Round your...

Q:

Question 3 A person amortises a loan of R15000.00 to be repaid by 5 equal monthly payments at an interest rate of 9% compounded monthly. 3.1 table. Construct a complete Amortization Schedule using...

Q:

1/3 Test 2 Compound Interest Future Value K & A [15 marks] Please note that for True and False answers, True is A and False is B True/False Indicate whether the statement is true or false. 1. The...

Q:

Rockford, Skeeba, and Tapinski are partners in a business which manufactures specialty railings. Their profit and loss agreement provides for the allocation of profits and losses as follows: 1....

Q:

Are interest-only payments and then a balloon payment a purchase money security order (PMSI) between bank and debtor when it is unclear if the debtor bought the equipment, inventory, etc. right away?

Q:

mal company achael partionance. \ table [ [ Desorfative , marger,Scimber af timers ] , [ Compliatiss remperate, 3 , 1 4 3 ] , [ banagel sackapes, 5 0 , 5 5 ] , [ Henametane , 1 , 1 0 2 ] , [ Invers...

Q:

Consider a system that can be in one of two possible states, S={0,1}. In particular, suppose that the transition matrix is given by 1/2 1/2 Suppose the system in state 0 at time n= 0, L.e, Xo = 0....

Q:

1. There are twenty common cations that can be analyzed readily in aqueous solution. These cations can be divided into five groups according to the solubility products of their insoluble salts. A...

Q:

[20 points] Set up the optimization problem for a central bank whose preferences are represented by the following intertemporal loss function: L = L(y, ) + BL (y+1, co = [B*L (y+k, t+k), k=0 +1) + BL...

Q:

The autocorrelation function of the process R a given by (sin(or) - Gr cos(67)} Then the Power spectral denulity in (4-4 irwS6 AS (w) = otherwise 8. S(w) = 95 M| I - otherwise 4- if w56 C.S(w) =...

Q:

BE9.2 (LO 2) Zhang Ltd. is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were HK$1,800,000 on March 1, HK$1,200,000 on June 1, and...

Q:

As shown in the cash flow diagram, there is an annual disbursement of money that varies from year to year from $100 to $300 in a fixed pattern that repeats forever. If interest is 10%, compute the...

Q:

On April 1 a man borrows $100. The loan is to be repaid in three equal semiannual (every 6 months) payments. If the annual interest rate is 7% compounded semiannually, how much is each payment?

Q:

An electronics firm invested $60,000 in a precision inspection device. It cost $4000 to operate and maintain in the first year and $3000 in each of the subsequent years. At the end of 4 years, the...

Q:

Stock X has a standard deviation of return of 10%. Stock Y has a standard deviation of 20%. The correlation coefficient between the stocks is 0.5. If you invest 60% of your funds in stock X and 40%...

Q:

Stellar Plastics is analyzing a proposed project. The company expects to sell 12,000 units, give or take 4 percent. The expected variable cost per unit is $7.00 and the expected fixed cost is...

Q:

9/10 QUESTION 9 Lee Sun's has sales of $3,000, total assets of S2,500, and a profit margin of 5 percent. The firm has a total debt ratio of 40 percent. What is the return on equity? O a 6 percent b....