How many years will it take an investment to triple if the interest rate is 6% compounded

Question:

How many years will it take an investment to triple if the interest rate is 6% compounded annually?

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

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Engineering Economics

ISBN: 978-0136118480

5th edition

Authors: Chan S. Park

See More Books

Question Posted: Apr 21, 2016 06:32 AM

See More Questions

A loan company offers money at 1.95% per month compounded monthly. (a) What is the nominal interest rate? (b) What is the effective annual interest rate? (c) How many years will it take an investment...
Rounded to the nearest month, how long will it take an investment to triple if it earns: a. 9% compounded annually? b. 8% compounded quarterly?
1. Joshua Vermier of Sacramento, California, received a raise after his first year on the job to $43,800 from his initial salary of $42,000. What was Joshuas raise stated as a percentage? Inflation...
During 2018, Susan incurred and paid the following expenses for Beth (her daughter), Ed (her father), and herself: Surgery for...
Assign one or more levels of the hierarchy of needs and the motives described in Figure 45 to the following products: (a) Life insurance, (b) Cosmetics, (c) The Wall Street Journal, and (d)...
Department-Brooklyn, the second department in a three department production process for NYC Inc., received 15,000 units with a total cost of $45,000 from Department-Bronx during the month of May....
Infections Can Lower IQ A headline in June 2015 proclaims "Infections can lower IQ." The headline is based on a study in which scientists gave an IQ test to Danish men at age 19. They also analyzed...
Assume the following facts: Keystone is defunct, has zero assets, and has two liabilities remaining on its balance sheet: Unsecured pension liability = $5 million Secured loan to an owner named Mr....
Many colleges and universities are supported by the government, while others are supported by private organizations. What bearing does the source of support have on the determination of authoritative...
For 2021, Essence Company, a calendar year taxpayer, will change from the cash method for tax purposes to the accrual method. At the end of 2020, Essence showed the following items. Accounts...
What is the present worth of these future payments? (a) $15,500 eight years from now at 14% compounded annually (b) $18,000 twelve years from now at 4% compounded annually (c) $20,000 nine years from...
You bought 300 shares of General Electric (GE) stock at $3,200 on April 30, 2009. Your intention is to keep the stock until it doubles in value. If you expect 8% annual growth for GE stock, how many...
Set up data validation to ensure that a column of numbers is entered in descending order.
Suppose you are a cattle producer who is attempting to increase the weight of your cattle by 300 pounds to bring them up to market weight. Since you have already negotiated a fixed price for these...
1 (a) Computation of profit or loss on the disposal of Delta Disposal proceeds Net assets at date of disposal (W1) Unimpaired goodwill at date of disposal (W2) Non-controlling interest at date of...
Assuming that PayNet acquires 70% of Shale on August 1, 2022, for cash of $196,000, what amount would appear in the non-controlling interest (NCI) account on the consolidated balance sheet on the...
Evaluate the definite integral (if you input a number, please enter at least 4 digits): 2 1 dz - [ dx =
What are minimum acceptable discharge criteria, hose stream allowances, and water supply durations for the protection of the following facility using either CMDA sprinklers or K11.2 upright CMSA...
True or False: The while loop is a pretest loop.
Why are stocks usually more risky than bonds?
How much invested now at an interest rate of 9% compounded annually would be just sufficient to provide three payments as follows: the first payment in the amount of $3,000 occurring two years from...
You deposit $2,000 today, $3,000 one year from now, and $5,000 three years from now. How much money will you have at the end of year 3 if there are different annual compound??interest rates per...
A company borrowed $180,000 at an interest rate of 9% compounded annually over six years. The loan will be repaid in installments at the end of each year according to the accompanying repayment...
Discuss at least five of the formatting decisions you would have to make when typing a table. Compare the decisions you provided to those of two of your classmates. Do you agree or disagree with the...
1-2. Draw graphs of the following functions using transformations: 1. y = 2x-1 x-2' 2. y log2x+1|- 3.
Assume a simultaneous open market purchase of 100 million from the Bank of England and a repayment of a discount loan of 5 million from Bank A to the Bank of England. Show the overall change in their...

How many years will it take an investment to triple if the interest rate is 6% compounded

Question:

Step by Step Answer:

F 3 P P 1 ...View the full answer

Contemporary Engineering Economics

Students also viewed these Accounting questions