(a) How long does it take for an investment to triple in value if it is invested...
Question:
(a) How long does it take for an investment to triple in value if it is invested at 6% compounded monthly?
(b) How long does it take if the interest is compounded continuously?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
a It will take about 1836 years t...View the full answer
Answered By
Rodrigo Louie Rey
I started tutoring in college and have been doing it for about eight years now. I enjoy it because I love to help others learn and expand their understanding of the world. I thoroughly enjoy the "ah-ha" moments that my students have. Interests I enjoy hiking, kayaking, and spending time with my family and friends. Ideal Study Location I prefer to tutor in a quiet place so that my students can focus on what they are learning.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
Find the effective rate of interest. (a) How long does it take for an investment to double in value if it is invested at 8% compounded monthly? (b) How long does it take if the interest is compounded...
-
How long does it take for an account containing $8000 to be worth $15,000 if the money is invested at 9% compounded monthly?
-
How long does it take for $8500 invested at 11% annual simple interest to be worth $13,000?
-
The lengths of the three sides of a triangle (in feet )are consecutive even integers. If the perimeter is 96 feet, find the value of the shortest of the three side lengths.
-
Light of wavelength 600 nm in vacuum is incident nearly perpendicularly on a thin film whose index of refraction is 1.5. The light travels from the top surface of the film to the bottom surface,...
-
PepsiCo's financial statements are presented in Appendix B. Financial statements of The Coca- Cola Company are presented in Appendix C. Instructions for accessing and using the complete annual...
-
How do you graphically depict the OE architecture that includes detail interactions of the Higher-Order Systems and Physical Environment domains?
-
Marc Hernandezs construction firm currently has three projects in progress. Each requires a specific supply of gravel. There are three gravel pits available to provide for Hernandezs needs, but...
-
You are making an audit of the shareholder's equity accounts of Clarence Corporation for the year ended December 31, 2017 The statement of financial position at December 31, 2016 showed the following...
-
It is expected that you prepare a report based on information about Microsoft Corporation. You should approach this from the perspective of upper-level managers. Included in the report should be: 1)....
-
In problem, the graph of an exponential function is given. Match each graph to one of the following functions (a) y = 3 x (b) y = 3 -x (c) y = -3 x (d) y = -3 -x (e) y = 3 x - 1 (f) y = 3 x-1 (g) y =...
-
In problem, evaluate each expression. Do not use a calculator. e ln0.1
-
1. When the points in a scatter plot cluster closely around the regression line, the correlation can be said to be a. weak. b. strong. c. positive. d. negative 2. When respondents who score high on...
-
Suppose f(x)=4x+9 and g(x) = r +3. Find the value of (fog)(1).
-
What are the implications of the fluctuation-dissipation theorem in understanding the statistical fluctuations of thermodynamic variables and their connection to dissipative processes ?
-
Once you have a topic, and you have conducted your audience analysis, it's time to nail down your specific purpose. If your general purpose is to persuade, the specific purpose identifies what you...
-
Discuss your thoughts about family change and family decline Analyze four to five factors you determine have impacted the social institution of family Analyze two or three effects of the evolution of...
-
Discuss how a particular communication technology was subjected to censorship. Describe both the historical perspective and how censorship is currently taking place within that communication medium.
-
Explain the elements that lead to the increased complexity of globalization.
-
You purchase a bond with a coupon rate of 6.7 percent, a par value $1,000, and a clean price of $905. Assume a par value of $1,000. If the next semiannual coupon payment is due in two months, what is...
-
In Problems 3360, find the exact value of each expression. 125) sec sin-1,
-
In Problems 4960, use a calculator to solve each equation on the interval 0 < 2. Round answers to two decimal places. 3 sin 0 - 2 = 0
-
In Problems 21100, establish each identity. cot 1 tane + 1 tan cote = 1+ tan0+ cote
-
Majesty Company uses target costing to ensure that its products are profitable. Assume Majesty is planning to introduce a new product with the following estimates: Annual demand Estimated market...
-
The side of a festival food tent is staked with two guidelines as shown. If the force in the rope going from A to B is 450 lbs and the force in the rope going from A to C is 300 lbs, what is the...
-
Summarise the main features of households with financial and mortgage debt by age given in Tables 1a and 1b below and comment on differences between and within age groups over time. Table1a...
Study smarter with the SolutionInn App