Question: 13. How long will it take $800 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two
13. How long will it take $800 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two decimal places.
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6%.
year(s)
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9%.
year(s)
-
19%.
year(s)
-
100%.
year(s)
14. Find the future values of these ordinary annuities. Compounding occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent.
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$600 per year for 10 years at 14%.
$
-
$300 per year for 5 years at 7%.
$
-
$800 per year for 5 years at 0%.
$
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Rework parts a, b, and c assuming they are annuities due.
Future value of $600 per year for 10 years at 14%: $
Future value of $300 per year for 5 years at 7%: $
Future value of $800 per year for 5 years at 0%: $
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