Question: 2. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note

2. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and FV as a positive. (a) For example, if a company's sales are growing at a rate of 4.60% per year, approximately how long will it take sales to double? Show your answer to 2 decimals (x.xx years). If you are not sure how to work this, go back to this week's practice problems. Do not approximate using the "rule of "72". (b) If you want an investment to triple in twenty-five years, what interest rate must it earn? Show your answer to 2 decimals (x.xx%)

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 Finance Questions!

1. (a) If you deposit $17,500 in the bank today, what is its future value at the end of twelve years if it is invested in an account paying 4.80% interest (annual compounding, or APR)? (b) What is...

For each problem, show your work steps. A correct answer with no work shown gets half credit (which means you fail the assignment). An incorrect answer with no work receives 0 credit. With time value...

highest mount you can ow finance 2. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and...

Please show work. 2. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and FV as a...

2. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and FV as a positive. (a) For...

please show work ( calculations + formulas ) 2 . We sometimes need to find how long it will take a sum of money ( or anything else ) to grow to some specified amount. Note that you should enter PV as...

2) We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and FV as a positive. For example,...

2. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. Note that you should enter PV as a negative and FV as a positive. (a) For...

MUST SHOW ALL WORK 2. We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. (a) For example, if a company's sales are growing at a rate...

Probably the most well-known (and most misused) equation in fluid mechanics is the Bernoulli equation. The standard form of the Bernoulli equation for incompressible irrotational fluid flow is...

Find io(t), t > 0 in the network infigure. 2H t =0 40 12V io(t)

identify 3 financial tools that nvidia could use to analyze their performance and give an example of each.

2X6 Step 4: Interpret. There is a 1 in 12 chance that you will get "tails" when flipping a coin and then roll a 5 on a die.