Question: Assuming annual compounding, what interest rate is required for an investment of $9,450 to be valued at $40,000 in 20 years? required annual interest rate

Assuming annual compounding, what interest rate is required for an investment of $9,450 to be valued at $40,000 in 20 years? required annual interest rate = % (Round to two decimal places.)

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 Accounting Questions!

A flat piece of cast iron 100. mm wide and 150. mm long is to be milled with a feed rate of 200. mm/ minute with a depth of cut of 1.0 mm. The milling cutter rotates at 100. RPM, and is wider than...

Assuming annual compounding, what interest rate is required for an investment of $9,100 to be valued at $38,000 in 20 years? required annual interest rate=% (Round to two decimal places)

Time value analysis has many applications including retirement planning, stock and bond valuation, loan amortization, and capital budgeting analysis. Time value of money uses the concept of compound...

Chris Long has just learned he has won a $504,900 prize in the lottery. The lottery has given him two options for receiving the payments. (1) If Chris takes all the money today, the state and federal...

Please help with all but question 10, thank you. Problem Set 1 Directions: If required, solve all questions formulaically unless use of a financial calculator is allowed. If a financial calculator is...

The accountant for Lunn Express wants to develop a balance sheet as of December 31, 2016. The following items pertain to the Liability category and must be considered to determine the items that...

PLEASE CAN SOMEONE ASSIST ME WITH MY ASSIGNMENT? THANKS A B C D E F G H K L UA W Car Lease Value 60000 Initial Investment 100000 Length of Lease (years) 4 Annual Investment 25000 Calculate the value...

The purpose of this assignment is to assess your assimilation of the knowledge, comprehension and application skills learnt in Cost Accounting, Accounting, Management Accounting and Finance...

Your mother just received a $250,000 inheritance. If she invests her money in a diversified equity portfolio returning 8 percent per year, approximately how long will it take her to become a...

Could any one help me on the Question 4? I don't know how to consider it. Bachelor of Business (Incorporating Graduate Diploma and Graduate Certificate in Business) Managerial Finance (367910)...

Explain why the availability of computer systems in the receiving department is such an important component of an automated expenditures process.

Suppose that you are in the market to purchase a car. With gas prices on the rise, you have narrowed it down to two choices and will let gas mileage be the deciding factor. You decide to conduct a...

Lacking sufficient cash for operations, a city borrows money from a bank, using as collat - eral the expected receipts from levied property taxes. Upon receipt of cash from the bank,the general fund...

Question 2 (a) Describe with the help of a diagram the stages of the Organisational Life Cycle. (40 marks) (b) Your start-up company, after years of struggle is now doing very well and you have...

Does it have at least one-inch margins?

Does it highlight your accomplishments rather than your duties?

Look up the references on stress in the workplace and summarise the actions that human resources need to carry out in this area.