Question: Exactly how long will it take for $ 5 0 0 to grow to $ 1 0 0 0 at the following effective annual interest

Exactly how long will it take for $500 to grow to $1000 at
the following effective annual interest rates?
(a) r =6%
(b) r =8%
(c) r =9%
(d) r =12%
(e) Do you detect a pattern?

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!