Find the effective rate of interest. (a) How long does it take for an investment to double

Question:

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 continuously?

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

Step by Step Answer:

Related Book For answer-question

Precalculus

ISBN: 978-0321716835

9th edition

Authors: Michael Sullivan

See More Books

Question Posted: Jan 17, 2019 09:17 AM

See More Questions

For 5% compounded quarterly In problem, find the effective rate of interest.
For 6% compounded monthly In problem, find the effective rate of interest.
For 5% compounded continuously In problem, find the effective rate of interest.
A line charge density pL of length L lies parallel to an infinite sheet of surface charge density ps. How much work is required to rotate the line charge so that it is vertical?
A film of oil lies on wet pavement. The refractive index of the oil exceeds that of the water. The film has the minimum nonzero thickness such that it appears dark due to destructive interference...
For the following exercises, test each equation for symmetry. r = 4 + 4sin
A bicycle racer rides from a starting marker to a turnaround marker at $10.0 \mathrm{~m} / \mathrm{s}$. She then rides back along the same route from the turnaround marker to the starting marker at...
Helix Company purchased tool sharpening equipment on April 1, 2010, for $72,000. The equipment was expected to have a useful life of three years, or 9,000 operating hours, and a residual value of...
b) In addition to its data centre in Texas, BitTech currently has 1,000 servers located in Singapore. These are deployed for cloud services. With the advent of AI technologies such as Google Bard,...
A production manager wants to assess the reactions of the blue-collar workers in his department (including foremen) to the introduction of computer-integrated manufacturing (CIM) systems. He is...
In problem, solve each exponential equation. Express irrational solutions in exact form and as a decimal rounded to three decimal places. 5 -x = 25
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 =...
Problem described some adjustments made by Susan Hatfield, CPA. Prepare the necessary adjustment as it would be made by the client in transactions (2) and (3), and by the secretary in transaction...
Diego runs a store for Mateo, the owner. Suppose that the inverse demand curve for the store's product is $p=160-0.1 Q$, where $Q$ is the quantity demanded and $p$ is the price per unit. The...
In Questions 5.2 and 5.3, describe the equilibrium if $c_{l} \leq c_{b}$. Data From Question 5.2:- Education is a continuous variable, where $e_{b}$ is the years of schooling of a high-ability...
In Question 5.2, under what conditions is a pooling equilibrium possible? Data From Question 5.2:- Education is a continuous variable, where $e_{b}$ is the years of schooling of a high-ability...
In Solved Problem 19.2, show that, if all the other firms were producing a high-quality wallet, it would pay a firm to start producing a low-quality wallet. Data From Solved Problem 19.2:- It costs...
Suppose that the inverse demand curve for paper is $p=200-Q$, the private marginal cost (unregulated competitive market supply) is $M C^{p}=80+Q$, and the marginal harm from gunk is \(M...
On October 1, 2014, Chung, Inc. assigns $1,000,000 of its accounts receivable to Seneca National Bank as collateral for a $750,000 note. The bank assesses a finance charge of 2% of the receivables...
After looking at the resources, explain what a spirit image is. Why might looking at a god and/or a human in terms of their spirit be helpful if you want to eliminate some of the divisions between...
In Problems 21100, establish each identity. 1+ sin0 1 sin 0 csc0 + 1 csc 0 - 1
In Problems 39 62, find the exact value, if any, of each composite function. If there is no value, say it is not defined. Do not use a calculator. tan-tan(- 2 3
In Problems 21100, establish each identity. cose + 1 cos 1 1 + seco 1 sece
Write the feature of Super's Career Development Assessment and Counseling (C-DAC) system?
Describe one type of role-play technique you could use in a specific group setting. Explain who would benefit from this technique and why. Toseland, R. W., & Rivas, R. F. (2017). An introduction to...
Suppose that a manager is following a base stock policy where the optimal inventory position is 10. Assume the component lead time is 2 days. At the end of day 1, there is no ordered units yet to be...

Find the effective rate of interest. (a) How long does it take for an investment to double

Question:

Step by Step Answer:

a It will take about 869 years to dou...View the full answer

Precalculus

Students also viewed these Mathematics questions