Question: Question 1 a ) ( Compound interest ) To what amount will the following investments accumulate? ( a ) $ 7 7 5 invested for

Question 1a)(Compound interest)
To what amount will the following investments accumulate? (a) $775 invested for twelve years at 12% compounded annually (b) $21,000 invested for five years at 5% compounded annually
Question 1b)(Compound value solving for n)
How many years will the following take? (a) $100 to grow to $298.60 if invested at 20% compounded annually (b) $53 to grow to $78.76 if invested at 2% compounded annually
1c)
At what annual rate would the following have to be invested? (a) $50 to grow to $280.20 in twenty years (b) $200 to grow to $497.60 in five 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!