Question: If interest is compounded at 4% per year, how long will it take P 12,000 to accumulate to P 13,500

If interest is compounded at 4% per year, how long will

it take P 12,000 to accumulate to P 13,500

If interest is compounded at 4% per year, how long will it take P 12,000 to accumulate to P 13,500

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 Economics Questions!

Q:

Problem 5-41 a. Find the FV of $1,800 invested to earn 127. after 7 years. Answer this question by using a math formula and also by using the Excel function wizard. Inputs: PV = N = Formula: FV =...

Q:

please help Assignment #4 Part one Simple interest and Compound interest A = P(1 + i)" 1 = P. r. t (Note- Change the rate into decimals and time into years for finding the simple interest) Q. 1....

Q:

3. A population triples every 10 years. Presently the population is 20,000. a) Find the population in 25 years. b) When will the population be 200,000? c) When was the population 2,000? 4. A...

Q:

1. Seven years ago, you put $500 in a bank account earning 6%/year. What is the bank account balance today? 2. You want to double your money in 5 years. What rate of return do your need to earn? 3....

Q:

7. If interest is compounded at 20% per year, how long (n) will it take for $50,000 (P) to accumulate to $86,400 (F) ?

Q:

Bob was retired from a major construction company last year. This year, Bobs son and his wife gave birth to a beautiful girl. Her name is Angel. John gave his son and his wife $12,000 as Bob wanted...

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 A R1 000 is deposited inh a bank in May and withdrawn in October the same year.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:

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 A R1 000 is deposited inh a bank in May and withdrawn in October the same year.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 value if the interest rate is 10% simple interest. 2.. An amount...

Q:

please i need the answer of all the questions SET LO2 Exercises EGN 3203 engineering economics 22, Construct a cash fl ow diagram that represents the amount of money that will be accumulated in 15...

Q:

please help me. I can pay only 70 dollars in this assignment Topic 1 & 2 Introduction to financial management and the Australian Taxation system Financial Markets 2 Learning Objectives Describe what...

Q:

An average of 1.4 private airplanes arrives per hour at an airport. a. Find the probability that during a given hour no private airplane will arrive at this airport. b. Let x denote the number of...

Q:

15) the increase in the required return while the expected dividends and dividend growth constant lead to the in the price of the stock A) Increase B) Decrease C) No change 16) the decrease in the...

Q:

Question 1 ) Investigate the economic conditions in your community and identify if you believe this to be a good time to invest in real estate in the Dallas area. State your position. Is this a good...

Q:

On January 1, 2014, Macon Manufacturing borrows $500,000 and uses the money to purchase corporate bonds for investment purposes. Interest rates were quite volatile that year and so were the fair...

Q:

Ionic Charge, is a newly organized manufacturing business that plans to manufacture and sell 60,000 units per year of a new product. The following estimates have been made of the company's costs and...

Q:

Malibu Corporation has monthly fixed costs of $192,000. It sells two products for which it has provided the following information....

Q:

The following information is available regarding the total manufacturing overhead of Bursa Mfg. Co. for a recent four-month period: a. Use the high-low method to determine: 1. The variable element of...

Q:

You have a $10 million capital budget and must make the decision about which investments your firm should accept for the coming year. Use the following information on three mutually exclusive...

Q:

Among a group of 5 8 programmers, who know either Java or Python or both, 1 5 only know Java and 1 3 only know Python. What is the probability of randomly choosing a programmer who knows both...

Q:

Do not go, wait until I come

Q:

Pay him, do not wait until I sign

Q:

Tell what you mean without sounding too dominant, i.e. show authority without sounding instructive