Question: At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years? Answer 6% 5% 7% 8%

  1. At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years?

Answer

6%
5%
7%
8%

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!

Q:

I attached a sample questions that you had your site but no answers. I wanted to check my work with the answers. Do you have the answers to these questions. I see some for some other finance exams...

Q:

1) An investor will invest $1,000 now and expect to receive $10 for each of the next 10 years plus $1,000 at the end of the 10th year. Her cash flow at time period 0 is A) $1,000. B) -$1,000. C)...

Q:

At what rate must $400 be compounded annually for it to grow to $71,640 in 10 years? A) 6% B) 5% C) 7% At what rate must $400 be compounded annually for it to grow to $716,40 in 10 years? A) 6% B) 5%...

Q:

Please show your work, thanks! 9) Which of the following is a non-cash expense? A. Depreciation expenses B. Interest expense C. Packaging costs D. Administrative salaries 10) The break-even model...

Q:

Please show your work, thanks! 12) If you have $20,000 in an account earning 8% annually, what constant amount could you withdraw each year and have nothing remaining at the end of 5 years? A....

Q:

28. Holding all other variables constant, which of the following could cause a firm's current ratio to decrease from 3.0 to 2.5? An increase in: a. accounts payable b. accounts receivable c....

Q:

At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years? A. 6% B. 5% C. 7% D. 8% Need answer in under an hour

Q:

Instructions: Please write the details and the formulas that you use to solve the question of the solution any answer without details will be ignored. 3) At what rate must $400 be compounded annually...

Q:

1.You will receive $50,000 at the end of 10 years. If the rate of interest is 8% per year, how much is the current value of your cash flow? A.$25,0124.45 B.23,159.97 C.$27,013.44 D.$46,296.30 2.If...

Q:

1 (Future value) To what amount will $5,200 invested for 9 years at 10 percent compounded annually accumulate? $5,200 invested for 9 years at 10 percent compounded annually will accumulate to $....

Q:

One of the top-selling products at a souvenir shop at the Victoria Peak Hong Kong is autographed picture of Andy Lau who is Hong Kong famous movie star. Sales are 18 pictures per week, and the...

Q:

Savona borrowed $7500 from her aunt today and has agreed to repay the loan in two equal payments to be made in one year and three years from now. What is the size of the equal payments if money is...

Q:

Classify each key performance indicator according to the balanced scorecard perspective it assesses. Choose from the following: flirancial peripective, oustomer perspective, internal business...

Q:

A company issues 1,050 shares of its common stock for $33,600 cash. Prepare journal entries to record this event under each of the following separate situations.