Question: Please answer all questions. 28. How long will it take to triple your savings if you earn 6.4 percent interest, A. 11.89 years compounded annually

Please answer all questions.

28. How long will it take to triple your savings if you earn 6.4 percent interest, A. 11.89 years compounded annually B. 12.02 years C. 15.39 years D. 17.71 years E. 19.58 years 29. Isaac only has SI,090 today but needs $1.979 to buy a new computer. How long will he have to wait to buy the computer if he earns 5.4 percent compounded annually on his savings? Assume the price ofthe computer remains constant. A. 11.83 years B. 11.48 years C. 12-51 years D. 12.77 years E. 11.34 years 30. You have $500 today and want to triple your money in 6 years. What interest rate must you earn if the interest is compounded annually? A. 18.08 percent B. 19.90 percent C. 2.15 percent D. 20.09 percent E. 21.21 percent

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!

A manager buys a 12-bottle case of chardonnay for $59.40. The manager wants to achieve a contribution margin of $12.00 per bottle for this type of wine. At what price should the manager sell each...

please answer both questions. You placed $1,261 in a savings account today that earns an annual interest rate of 15 percent compounded annually. How much you will have in this account at the end of 8...

Time Left:0:54:22 Tyrie Wicker: Attempt 1 Question 5 (3 points) Saved Approximately how long will it take Sam to double his $250,000 investment if it earns 6.5% interest, compounded annually? Oa) 2...

please answer all of the following questions 21. Suppose you deposit $5,000 into an account earning 4 percent interest, compounded monthly and you also make monthly contributions of $50 (first...

homework help please! co Questiono An article in the Wall Street Journal says that market interest rates just dropped by identical amounts across the board. yield curve shifted down.) You would...

FIN 620 6. You want to have $40,000 for a down payment on a house 4 years from now. If you can earn 5,.6 per rcent, compounded annually on your savings, how much do you need to deposit today to re...

Exam. Help now. Do 5- 10 or more. Give me the answer. No need explanation. Fail or pass is on your hands. Thank you or answers the q HOICE Choose the one alternative that best completes goods sold of...

Exam. Help now. Do 1-7 or more. Give me the answer. No need explanation. Fail or pass is on your hands. Thank you or answers the q MULTIPEE C HOICE Choose the one alternative that best completes f...

7-15 3:08 PM a v8.edvance360.com @ l TFW LTE 64%- 7) You borroW $25,000 to be repaid in 12 monthly installments of $2,292.00. The anevual interest rate is closest to A) 1.5 percent. B) 12 percent C)...

The instructions are attached in the Division Performance Evaluation Division Performance Evaluation Project Using Excel In this assignment you will analyze the performance of PepsiCo or Marriott's...

Type your question here An agreement for the sale of securities in which the investment bank guarantees the sale by purchasing the securities from the issuer and then sells the securities in the...

In 2006, Chile looked back on 18 years of consecutive fiscal surpluses. In part, the country was able to achieve this notable record because the government included privatization receipts as a part...

The following data are monthly purchases and sales of Avada Company. 40% of purchases are paid in cash at the time of purchase, and 30% are paid every 2 months. Purchases for the previous January and...

In exercise physiology, an objective measure of aerobic fitness is the oxygen consumption in volume per unit body weight per unit time. Thirty-one individuals were used in an experiment in order to...

The resourse based theory of the firm states that the resources can be sustainable spurce of competitve advantage which id the follow doesn nit define a resourse?

What forms of power seemed most evident among the founding team members? Explain.

Have you used any of the five techniques for generating creative alternatives? If yes, which ones?

Is following the steps in the decision-making model really all that important? Which steps of the model do you tend to follow? Which steps do you tend to not use? Will you use the model in your...