Question: D. interest on interest. ( E. compound interest. According to the Rule of 72, you can do which one of the following? A. Approximately double

D. interest on interest. ( E. compound interest. According to the Rule of 72, you can do which one of the following? A. Approximately double your money in five years at 7.24 percent interest B. Double your money in 7.2 years at 8 percent interest C. Approximately double your money in 11 years at 6.55 percent interest D. Triple your money in 7.2 years at 7.2 percent interest E. Approximately triple your money in 7.2 years at 10 percent interest

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. As time gets longer the present value of a future value gets: A. Stays the same B. Gets larger C. Gets smaller D. Gets inflated As the interest rate increases the future value of a lump sum gets:...

17. A firm has $520 in inventory, $1,860 in fixed assets, $190 in accounts receivables, $210 in accounts payable, and $70 in cash. What is the amount of the current assets? A. $710 B. $780 C. $990 D....

Financial Economics ________ 1. You currently have $7,200 in your investment account. You can earn an average rate of return of 11.7 percent per year. How long will you have to wait until your...

12. The interest earned on both the initial principal and the interest reinvested from prior periods is called: A) free interest. B) dual interest. C) simple interest. D) interest on interest. E)...

1. Nana Ekua opened a savings account this morning. Her money will earn 5 percent interest, compounded annually. After five years, her savings account will be worth GHS5,600. Assume she will not make...

________ 16. According to the Rule of 72, it will take _____ years to double your money at a 6.4 percent rate of interest. a. 11.25 years b. 11.33 years c. 11.67 years d. 12.00 years ________ 17....

I need help with accounting you already helped me with chapter 5 and 6 this is chapter 5 and 6 combined portion 13 questions. You did a great job the first time so I am a returning customer. Out of...

A publisher is deciding whether or not to invest in a new printer. The printer woul increase the cash flow in year 1 by $ 5 0 0 and in year 3 by $ 8 0 0 . Cash flows did not chang interest rate is 1...

MUST SHOW CALCULATIONS TO RECEIVE CREDIT. 1. Lucy invested $10,000 at the rate of 12%. According to the rule of 72, it would take ______ years for her money to double a) 4 b) 5 c) 6 d) 7 2. A...

in which you go for that will is the current value of Prent value Future value A benefit S. A method by which one can compare cash flow time the what an investment made today will be worth in the...

For 2018, the maximum amount of expenses that qualify for the child and dependent care credit is the same for three dependents as it is for two dependents. True False

Refer to Exhibit. Describe how the appropriateness and sufficiency of evidence for a specific account is influenced by the risk of material misstatement associated with that account. Contrast how...

you have to decide whether to buy stock in Ford Company or Gm Company. The income will rise over the next few years. What company should you invest in and why?

Scenario: A Multi-national Corporation called The Globe has created a subsidiary called Thirst in an under-developed country called non-potable waters. This hosting country suffers from a severe...

Using some of the ideas in case study 12.4, consider proposals to change the recruitment of one key job in your organisation that would aim to reduce the attrition rate.

In the CIPD labour turnover research, the cost of replacement of employees who leave is high. Why is this?

Set out the arguments for and against instituting a legal requirement for a quota of women on boards of private companies