Question: please show work ( calculations + formulas ) 2 . We sometimes need to find how long it will take a sum of money (
please show work calculations formulas
We sometimes need to find how long it will take a sum of money or anything else to grow to some specified amount. Note that you should enter PV as a negative and FV as a positive.
a For example, if a companys sales are growing at a rate of per year, approximately how long will it take sales to triple? Show your answer to decimals xxx years If you are not sure how to work this, go back to this weeks practice problems. Do not approximate using the rule of
If you are in doubt here, go back to the practice problems where doubletripling is discussed.
b If you want an investment to double in twelve years, what interest rate must it earn? Show your answer to decimals xxx
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