Question: A loan earns interest at a certain compound rate per annum. Four years ago the amount was Rs 81, now it is Rs 144. What

A loan earns interest at a certain compound rate per annum. Four years ago the amount was Rs 81, now it is Rs 144. What will the amount be two years hence? Find what time a sum of money will double itself at 4.5% interest compounded annually.

In what time will a sum of money double itself at 5% p.a. compound interest? [Given log 2 = 0.3010, log105 = 2.0212]

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 Programming Questions!

From the following partial worksheet, journalize the closingentries of December 31 for A. Slow Co. Partial Worksheet for A. Slow Co. A. SLOW CO. PARTIAL WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2019...

Consider the following information: Rate of Return if State Occurs State of Economy Boom :57 Bust of Economy .66 .34 Probability of State Stock A .09 .13 Stock B Stock C .03 .19 .24 -.04 a. What is...

KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...

It is common knowledge that sunlight is a resource that can be replenished. In point of fact, throughout the whole of human history, it has been used to warm homes, dry and cook food, as well as heat...

JKL-9 Please do not copy other answers. This is a different question. If copied from other answers I will downvote and report your account . Q1. Q2. Delta prepares financial statements to 31 March...

1. Joe College is a twenty-two year old college senior who used the Stafford loan program to finance a portion of his college expenses. Student loans under the U.S. government's popular Stafford...

James took out a business loan on 30 October 2019. The loan attracts interest at the rate of 10% per annum, payable 6 monthly in arrears. If the business year end is 31 December 2019, then 2 months...

Question :- KPMG Taseer Hadi & Co. as the Auditors of the Company for the year 2019, subject to Shareholders' approval at the next AGM to be held on April 09,2019. Holding Company Through its wholly...

Need help with 50 MCQs on 1040s. Need 70% to pass. Serious inquiries only. Thank you. Exam in Progress Exam DT1TG16 - 1040 Income Tax Preparation Questions 50 Passing Score 70% 1. Available filing...

Trimyristin, a solid fat present in nutmeg, is hydrolyzed to give one equivalent of glycerol and three equivalents of myristic acid. Give the structure of trimyristin.

Average_Cost_($/unit) Material_Cost_($/unit) Plant Plant_Dummy Plant_Dummy*Material_Cost 37.12 1.1776 New 1 1.1776 30.86 0.8591 Old 0 0 35.02 1.9581 New 1 1.9581 42.64 2.0733 Old 0 0 43.32 2.1698 New...

For each of the following figures, find the (total) area of the shaded region(s), where O is the centre of the circle. (a) 5 cm 5cm 2 cm (b) 10 cm .5 cm em -12 cm 14 cm- 35 cm 18 cm 0cm 18 cm

The American Carbon Registry, www.americancarbonregistry.org, provides approved measurement methodologies for energy companies who wish to show greenhouse gas emission reduction through retrofitting...

When ranking acidity of organic compounds, are we suppose to look their atomic size or electronegativity? For instance, when ranking the acidic strength of o-chloro benzoic acid and o- bromo bezoic...

Ride & Co . is a successful moto sharing company that operates in 20 cities of Spain, Italy and France. Its business model consists in the acquisition of motorcycles from 2 main manufacturing...

Digby has a new design for their product Deal next round that can reduce their material cost of producing units from $8.14 to $7.32. Digby passes on half of all cost savings by cutting the current...

As a consultant, you are given a project to reinforced a tunnel that is subjected to sea-water flooding. The design requirements that you must fulfill are; the beam that will be used to reinforce the...

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

Under the Candidate Fitness Standards, the following conduct is unacceptable and will always bar an individual from becoming certified: 1.. Two or more personal or business bankruptcies. 2.. Felony...

You are given the following null and alternative hypotheses: H0: m1 m2 HA: m1 6 m2 together with the following sample information: Sample 1 Sample 2 n1 = 14 n2 = 18 x1 = 565 x2 = 578 s1 = 28.9 s2 =...

The Commission may make one of the following decisions regarding a petition for reconsideration by a candidate for certification: a. Grant the petition after determining the conduct does not reflect...