Question: Need work shown please Use A = P1+ where: A = the amortized amount (total loan/investment amount over the life of the loan/investment) P =

Need work shown please Use A = P1+ where: A =

Need work shown please

Use A = P1+ where: A = the amortized amount (total loan/investment amount over the life of the loan/investment) P = the initial amount of the loan/investment r = the annual rate of interest n = the number of times interest is compounded each year t = the time in years Find how long it takes $1,200.00 to double if it is invested at 2% compounded annually. It will take .356 years. (Round answer to 3 decimal places.)

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 Accounting Questions!

Several years ago, River City built a water purification plant to remove toxins and filter the citys drinking water. Because of population growth, the demand for water next year will be more than the...

= the amortized amount (total loan/investment amount over the life of the loan/investment) = the initial amount of the loan/investment = the annual rate of interest = the number of times interest is...

BIZ3189 Management Information Systems Take-home Exam 1 The tasks in this exam aim at developing a basic level of understanding on Excel and how you can use it to develop Decision Support Systems....

hello i need ans to the following questions. please show all your work. and please use finacial calculator. thank you 2. [15 points] You start a private mortgage lending firm that targets high...

With the work shown please thank you! The dean of the School of Fine Arts is trying to decide whether to purchase a copy machine to place in the lobby of the building. The machine would add to...

Hi, Please help me with responding to the discussion questions below because I'm having a hard time answering them myself. I have been up all night, and I'm unable to figure them out. I uploaded a...

Chapter 18 Take Home Packet 1) Solve ALL problems with a financial calculator (NO annuity formulas) - SHOW ALL WORK!! Chapter 18 - Packet a Chapter 18 Take Home Packet 1) Solve ALL. problems with a...

Fact Find Initial Interview: Time Date Location Referred by: A. Personal Details Applicant 1 Applicant 2 Full Name of Applicant Full Name of Applicant Mr Mrs Miss OMS Dr Mr Mrs Miss OMs Dr Full Name...

Chapter 18 Take Home Packet 1) Solve ALL problems with a financial calculator (NO annuity formulas) - SHOW ALL WORK!! I recommend printing this document so that you can easily see everything. Then...

Please help with the following questions related to the attached financial statements:...

Find the area enclosed by the curve y=x^2-10x + 9, the x-axis and the lines x = 4 and x = 10.

Explain ways to reduce staff turnover in the Faculty of History.

What is meant by price elasticity of demand (PED) and how is it calculated?

Many companies today are conducting location - based targeting to consumers in local communities or neighborhoods using digital or social media. This type of marketing is known as geographic...

3. Describe the three parts of an interview: opening, questions, and conclusion

1. Define the nature of interviews

2. Outline the different types of interviews