Question: Please help with the questions below. Please note for these problems 1 year = 12 months = 52 weeks 360 days 1.How long (in years)

Please help with the questions below.

Please note for these problems "1 year" = 12 months = 52 weeks 360 days

1.How long (in years) will it take money to triple if it is invested at 7.5% compounded continuously?Round answer to nearest tenth of a year

2.What is the annual percentage yield (APY) for money invested at an annual rate of 5.2% compounded daily?

3.Advanced Insurance Company offers a "college education" annuity that pays 7.5% compounded quarterly.What equal quarterly deposit should be made into this annuity in order to have $180,000 for college expenses in 18 years?

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!