Question: 1. Find the present amount needed to attain a future amount of F dollars in the given time using an annual simple interest rate of

1. Find the present amount needed to attain a future amount of F dollars in the given time using an annual simple interest rate of r.

F = $7200, r = 4.7%, 2 years

$______

2. A principal earns 8% per year simple interest. How long will it take for the future value to quadruple? (Round your answer to two decimal places.) _____ years

3. A principal of $5000 earns 5.5% per year simple interest. How long will it take for the future value to become $6155? (Round your answer to two decimal places.) _____ years

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock 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 Mathematics Questions!

Find the present amount needed to attain a future amount of F dollars in the given time using an annual simple interest rate of r . F = $5100, r = 7.1%, 2 years

Find the present amount needed to attain a future amount of F dollars in the given time using an annual simple interest rate of r. f=$4500,r=6%,2years

POINTS 050 680 0/100 0.0% Assignment Submission & Scoring Assignment Submission For this assignment, you submit answers by question parts. The number of submissions remaining for each question part...

1.)Find the present amount needed to attain a future amount of F dollars in the given time usin an annual simple interest rate of r. F= $7900, r=2.6%, 2 years 2.) a principal of $6000 earns 5% per...

1. Laura bought 100 shares of stock X for $50/share at the start of 2013. During that calendar year, each share paid 4 dividends of $.25 each, plus its price rose to $55. She still owns these shares....

finance and investement Suppose Sandema is weighing the opportunity and the risk of investing in any of the two individual sccurities Access (X1) and Zenith Bank (X2) made of Real Extates Investment...

The replacement of a planning machine is being considered by the Reardorn Furniture Company. (There is an indefinite future need for this type of machine.) The best challenger will cost $35,000 for...

Given that the annual risk-free interest rate on the margin account is 3% continuously compounded. For each futures contract, you will need to generate your future prices, and you may refer to the...

Hi Erylee88, I would like to utilize your service again. Same format different questions. Please find attached document for your review. Let me know. Thank you, Sam...

I need with these problems/exercises listed below (chapters attached). You must use the chapters to fill out the guidance report which is attached. Using the data for March/April Column. Chapter...

Raul plans to invest $25,000in retirement account that compounds 6% monthly he w as 25years left until he retires how \mu ch for the account have when he retires?

How much interest is paid over. The entire term of a $60,000, 30 year loan at 13% annual interest. If it has fixed monthly principal and interest payments of $663.72?

Use the following contingency table: a. Compute the expected frequencies for each cell. b. Compute x2 STAT. Is it significant at a = 0.001?

What are the advantages and disadvantages of Apple having suppliers outside of China?

Instead, assume that only 50 percent of the job candidates accept a job offer. Calculate the number of job offers necessary to maintain the required staffing level of 100 employees on an annual basis.

This chapter describes HRs changing role in business. Describe each component that is involved in HRM.

How might HR technology affect the various HR functions?