I put $2000 into a bank account some years, it has been earning an interest of 7%

Fantastic news! We've Found the answer you've been seeking!

Question:

I put $2000 into a bank account some years, it has been earning an interest of 7% and today I have $14000 in the account. How many years has my deposit been in the account?

Related Book For answer-question

Advanced Accounting

ISBN: 978-1118037911

1st Canadian Edition

Authors: Gail Fayerman

See More Books

Posted Date: Jun 07, 2023 05:58 AM

See More Questions

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Problem 4.2 Ask the user to enter his/her age, with the prompt: "How old are you? Please enter your age as a number between 0 and 120. -> ". Check that what was entered is a number between 0 and 120....
The yellow-colored light from a highway sodium lamp is brightest at a wavelength of 589 nm. What is the photon energy for light at that wavelength?
The conical top has mass M, and the moments of inertia are I x = I y and I z . If it spins freely in the ball-and-socket joint at A with angular velocity s compute the precession of the top about the...
What is a limit cycle?
Acme Enterprises leased equipment from Monument Equipment Co. on January 1, 2011. The terms of the lease agreement require five annual payments of $20,000 with the first payment being made on January...
The Miller Family Budget 20%5%20%35%20%Food20%Entertainment5%Utilities20%Savings20%Housing35% Data Percentage Food 0.2 Entertainment 0.05 Utilities 0.2 Savings 0.2 Housing 0.35 If the Milller's spend...
Robert A. Kliesh, age 41, is single and has no dependents. Robert's Social Security number is 111-11-1111. His address is 201 Front Street, Missoula, MT 59812. He is independently wealthy as a result...
a. Depreciation on the company's equipment for the year is $6,000. b. The Prepaid Insurance account had a $4,650 debit balance before adjustment. An examination of insurance policies shows $2,500 of...
5. Find a function f(x) with derivative f'(x)=cc
Find and simplify. f(x)=3x (a) f(x + h) f(x) (b) f(x + h) - f(x) h
Solve the inequality involving absolute value. 2-2+613 Enter the exact answer in interval notation. To enter oo, type infinity. To enter U, type U. Show your work and explain, in your own words, how...
Question: Christian Volhard works as a financial analyst for Tooele Company, which operates a large chain of fast-food restaurants. One of the key costs of the fast-food restaurants is the cost of...
Solve the inequality involving absolute value. Enter the exact answer in interval notation. |x-2+5 13 To enter co, type infinity. To enter U, type U. Show your work and explain, in your own words,...
4 months ago, Mario (an Italian investor) invested 25,000 to buy AAPL stock @ 160 per share. Exchange rate (XR) was 1.25/$. Today, he sold the shares for $140 per share (XR now is 1.55/$). Calculate...
5. How much would you need to deposit in an account now in order to have $5,000 in the account in 5 years? Assume the account earns 2% interest compounded monthly. 10. You deposit $300 each month...
Consider the elements and indicators among reporting frameworks (Illustration 10.3). In Illustration 10.3 Required (a) Describe key financial indicators given in a financial statement presented in...
You, CA, have recently been assigned as audit senior for the audit of Open Arms Society (OAS), a not-for-profit organization set up three years ago to help integrate students with disabilities in...
Terrier Enterprises (TE) is a family-owned company founded by Bob Terrier that owns and operates many well-known consumer product brands that are sold throughout Canada. Its head office is located in...
True or False. The system stiffness matrix is always singular unless the boundary conditions are incorporated.
Derive the stiffness and mass matrices of the planar frame element (general beam element) shown in Fig. 12.16 in the global $X Y$-coordinate system. Y U U3 U Joint 1 Joint 2 U6 Us UA FIGURE 12.16 A...
Fill in the Blank. The displacement within a finite element is expressed in terms of _____________ functions.

I put $2000 into a bank account some years, it has been earning an interest of 7%

Question:

Expert Answer:

To solve this problem we can use the formula for compound inte... View the full answer

Advanced Accounting

Students also viewed these finance questions