Question: Question 2 How long does it take for any amount of money to triple its value if invested at a simple interest rate of 8.5%?

Question 2 How long does it take for any amount of money to triple its value if invested at a simple interest rate of 8.5%? Give your answer rounded to 2 decimal places. Use decimal point. Example: 10.35 Add your

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!

10-12 all please 10. A loan of $10,000 was taken out at a simple interest rate of 12%. The first two partial payments are: $200 ( 91 days after the loan date) and $Y ( 39 days later). Using the...

11-12 both xx 11. What simple interest rate r is equivalent to a simple discount rate of 9% if money is invested for 42 weeks? (A) 9.89% (B) 8.39% (C) 9.71% (D) 8.26% 12. If money doubles at a...

Please these are my answers to your quiz 1. What do we call the process of turning future cash flows into current cash flows? Discounting 2 Dollars to be received or paid out through time are...

label and circle each question and answer , also draw cash flow diagram for questions 1-9 1. (Problem 3-3) A$5,000 loan was to be repaid with 5% simple annual interest. A total of $6,000 was paid....

1. (a) Suppose that the monthly compounded annual interest rate is 2.5%. What is the present value B of 1 pound received in 1 month from today (in other words, the discounting factor)? Give your...

questions 2,3,5,9,13,14,26,29,37,38 please Please see the preface for more information. Basic Problems What is the value of your investment after one year? Multiply $3,000 x 1.12. a. Fu C. 1. You...

Question 1(Multiple Choice Worth 1 points) (02.06 MC) Suppose Country 'X' is producing an output of 300 units of a certain good at $3 per unit in 2017. With time, the price level rises from $3 per...

1 Choose which reasoning process is shown in the following example. Explain your answer. An HMO does a followup study on 1283 randomly selected patients given a flu shot. None of these people became...

1) Luyolo borrows money from the bank at a simple discount rate of 12% per annum.. He needs to pay the bank R5 000 in six months time. The amount of money that he will receive now from the bank is...

Section A 31. Which of this organization could be describe as having a legal entity, separate from its owners and managers? A. K. Ofori Ventures B. KHN Accountants and Associates C. Okudzeto and...

Q. klhat if a Sonic dan only had the following choice Drink Coke or Dr. Pepper Flavor; Cherry, Vanilla or none fruts: lemon, Lime or none 1) Draw a tree diagram for the aboce 2) of the drink...

The RBSmith Construction Company has a construction project with the following characteristics: Task A B C D F Duration (Weeks) G 3 6 3 E 3 53 7 4 Predecessor(s) A C A B, D, E 1. Construct a network...

Management may repurchase shares of stock in the market: Multiple Choice to buy stock they feel is considerably overpriced. because future earnings are expected to decrease. to use in a merger. to...

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...