Question: How long does it take for $8,000 to grow into $10,555.83 at an annual interest rate of 4% compounded semi-annually?

How long does it take for $8,000 to grow into $10,555.83 at an annual interest rate of 4% compounded semi-annually?

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:

Lockheed, one of the largest defense contractors in the United States, reported EBITDA of $1,290 million in a recent financial year, prior to interest expenses of $215 million and depreciation...

Q:

21. Use the Disk/Washer or Shell method to set up the integral to find the volume of the solid obtained by rotation about y-axis the region bounded by y= squre root x+1 , x=0 and y=0? 22. How long...

Q:

Chapter 5 (Finance) Homework Questions1. If you deposit $25,000 today into an account that pays interest at 7%,compounded annually, how much will be in your account at the end of 4 years?a....

Q:

Please work out these Interest problems involving logs step by step please. Ignore the work done Advanced Algebra B Solving Interest Problems Involving Logs 1-09#N Name Caden Warm Up: If a $500...

Q:

1)How long will it take for a single cash flow $800 to grow to $1500 in a found earning interest rate 9.8% compounded semi-annually? 2) A deposit of $882.92 today will allow you to withdraw $1,000 in...

Q:

Problem 1: Calculate the future value of $1,200 invested today for four years at 10% annual interest rate. Problem 2: Calculate the present value (PV) of a $700, cash inflow that will occur three...

Q:

Creating Amortization Tables For this assignment you are required to create two loan amortization schedules. See the worksheets "CarLoan" and "Mortgage" for details Step 0: Enter your First & Last...

Q:

Need to complete 10 homework but now i need 5 homework then after some time 5 homework more. Here it is attachment. Chapter 5 HW Questions [ALL OF THESE MUST BE DONE IN EXCEL] 1. Future value: Chuck...

Q:

P11 rest to follow, thanks. If possible, due within 72 hours. Practical 11 - step by step please 1. A R1 000 is deposited inh a bank in May and withdrawn in October the same year. Find the future...

Q:

INTEGRATED CASE 6 KWANGTUNG COMMERCIAL BANK 5-45 TIME VALUE OF MONEY ANALYSIS You have applied for a job with a local bank. As part of its evalu tion process, you must take an examination on time...

Q:

Good Morning Dr.Ramsey Please assist me with my discussion this week ( min 150 words). Advanced Time Value of Money An advertised monthly lending rate of 0.9% is about 11% per year. This difference...

Q:

A lamp (R = 150 ), an electric heater (R = 25 ), and a fan (R = 50 ) are connected in parallel across a 120-V line. (a) What total current is supplied to the circuit? (b) What is the voltage across...

Q:

You need to do "Qualitative versus Quantitative Research: Discuss situations that might be suitable for both approaches with justification for your choice. What would the merits and demerits of the...

Q:

5 1 8 Case Approach to Financial Planning [ C ] Case Questions How much total Section 7 9 income ( rounded ) for the year must the Cantrells report for tax purposes? a . , $ 0 b . $ 6 C . , $ 2 9 d ....

Q:

A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments. January February March Cash receipts $1,061,200 $1,182,400 $1,091,700 Cash...