Question: John invests $200 at 4.5% compounded annually. About how long will it take for Johns investment to double in value? (A) 6 yrs (B) 9

John invests $200 at 4.5% compounded annually. About how long will it take for John’s investment to double in value?

(A) 6 yrs 

(B) 9 yrs 

(C) 12 yrs 

(D) 16 yrs 

(E) 20 yrs

Step by Step Solution

★★★★★

3.50 Rating (167 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

invests 200 at 45 comp... 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

Students Have Also Explored These Related Calculus Graphical, Numerical, Algebraic Questions!

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 $400 to grow to $1,000 at the following interest rates? a. 4% b. 8% c. 16%

Q:

Chapter 1 Assignment Investing Money FM30.1 Demonstrate understanding of financial decision making including compound interest and investment portfolios. A = P + Prt I = Prt Alex is 22 and would like...

Q:

Please, I need help with the calculations for the following 25 problems in the "final" tab of the workbook before 9pm CST. FINC 340 Quizzes 1 2 Derivatives can be strictly defined as Financial...

Q:

19 Name: ____________________________________ 1. Your friend has a credit card with an APR of 49.9% ! What would his finance charge be on a $500 charge for just 1 month? 2. Your friend has 2 credit...

Q:

Need to complete 10 homework but now i need 5 homework then after some time 5 homework more. Here it is attachment. Chapter 5 HW Questions [ALL OF THESE MUST BE DONE IN EXCEL] 1. Future value: Chuck...

Q:

can any expert help me to work on the questions below?? i need it done correctly as soon as possible FINC 340 Quizzes 1 2 Derivatives can be strictly defined as Financial intermediaries are extremely...

Q:

PowerPoint Assignment for BUS 401: Principles of Finance You have been asked by a manager in your organization to put together a training program explaining Net Present Value (NPV) and Future Value...

Q:

questions 2,3,5,9,13,14,26,29,37,38 please Please see the preface for more information. Basic Problems What is the value of your investment after one year? Multiply $3,000 x 1.12. a. Fu C. 1. You...

Q:

Which of the following major stages of the audit is most closely related to attributes sampling? a. Determining preliminary levels of materiality. b. Performing tests of controls. c. Performing...

Q:

How does one write their feminist manifesto so that it is like a speech and is very interesting?

Q:

nabled: Module 5 Exam 1 Help Save 8 Exit Submit Which of the following items would be least useful in preparing a schedule of cash recelpts? Multiple Choice Expected revenue from cash sales. Service...

Q:

(LO 4-3) The text mentions, If your data analysis project is more declarative than exploratory, it is more likely that you will perform your data visualization to communicate results in Excel. In...

Q:

Implement the test in Problem 8.99, and report a p-value? Endocrinology A study was performed to determine the effect of introducing a low-fat diet on hormone levels of 73 postmenopausal women not...

Q:

Provide a 95% CI for the change in mean log10 (plasma estradiol)? Endocrinology A study was performed to determine the effect of introducing a low-fat diet on hormone levels of 73 postmenopausal...

Q:

Construct a two-sided 90% CI for the mean change score for retired women. What does it mean? Health Promotion A study looked at the influence of retirement on the level of physical activity among...

Q:

Assume that a bond will make payments every six months as shown on the following timeline (using six-month periods Period 1 2 60 Cash Flows $19.67 $19.67 $19.67 $19.67 +$1,000 a. What is the maturity...

Q:

V. For the year ending December 31, 2010, the accounts of Jackson Corporation showed the following balances: Contributed capital, January 1, 2010 Retained earnings, beginning balance, January 1, 2010...

Q:

Payne Products had 53.2 mitilon in sales revenues in the most recent yeat and expects soles growth to be 25% this year. Payne would ike to determine the effect of various current assets polides on...