solve the followings questions 3. You placed $5,000 in a trust fund for your son. In 12
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solve the followings questions
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3. You placed $5,000 in a trust fund for your son. In 12 years the fund will be worth $10,000. What is the rate of return on the trust fund? 4. You need $3,000 to buy a new HDTV system. If you have $1,200 to invest at 6% compounded annually, how long will you have to wait to buy the stereo? 5. At an interest rate of 10% and using the Rule of 72, how long will it take to double the value of a lump sum invested today? 3. You placed $5,000 in a trust fund for your son. In 12 years the fund will be worth $10,000. What is the rate of return on the trust fund? 4. You need $3,000 to buy a new HDTV system. If you have $1,200 to invest at 6% compounded annually, how long will you have to wait to buy the stereo? 5. At an interest rate of 10% and using the Rule of 72, how long will it take to double the value of a lump sum invested today?
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3 To find the rate of return on the trust fund we can use the formula for compound interest Future v... View the full answer
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Accounting Texts and Cases
ISBN: 978-1259097126
13th edition
Authors: Robert Anthony, David Hawkins, Kenneth Merchant
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