Question: What nominal interest rate compounded monthly is earned on an investment that doubles in 8 years? What nominal interest rate compounded semi-annually will result in

What nominal interest rate compounded monthly is earned on an investment that doubles in 8 years? What nominal interest rate compounded semi-annually will result in the same benefit?

compounded monthly

compounded semi-annually

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!

Colt Company reports pretax financial income of $143,000 in 2007. In addition to pretax income from continuing operations (of which revenues are $295,000), the following items are included in this...

What nominal interest rate compounded monthly is earned on an investment that doubles in eight years? What nominal interest rate compounded semi-annually will result in the same benefit? AppendixLO1

What nominal interest rate compounded monthly is earned on an investment that triples in 20 years? What nominal interest rate compounded quarterly will result in the same benefit? AppendixLO1

What nominal interest rate compounded monthly is earned on an investment that doubles in 8 years? What nominal interest rate compounded semi-annually will result in the same benefit? 0.00 %...

Question 17 of 18 What nominal interest rate compounded monthly is earned on an investment that doubles in 6 years? What nominal interest rate compounded semi-annually will result in the same...

Sue Li deposited $300.00 into a savings account that compounded interest monthly. What nominal annual rate compounded monthly was earned on the investment if the balance was $405.10 in eight years?...

Yin Li deposited $200.00 into a savings account that compounded interest monhily. What nominal annual rate compounded monthly was earned on the investment if the balance was $416.50 in three yeses?...

1. A demand loan of $3000.00 is repaid by payments of $1500.00 after two years, $1500.00 after four years, and a final payment after seven years. Interest is 7% compounded quarterly for the first two...

question 21, answer in the text book is 25.86% i did (2500/1000)^ (1/20)-1 = 0.0468 x4 x100% 18. Mark heard that he could triple his moncy in 15 years if he invested it in his friend's...

Question 1 of 10 If an investment grew to $14,500 in 2 years and the interest amount earned was $1,200, calculate the nominal interest rate compounded monthly. % EQuestion 2 of 10 Alexander was...

1)Juana deposited $200 into a savings account that compounded interest monthly. What nominal annual rate compounded monthly was earned on the investment if the balance was $574.80 in 8 years? The...

Considering that the Southerners faced such a formidable military task in a war with the North, why did they secede? Could the Southerners have better defended their interests through a political...

Draw the NMR spectra you expect for the following compounds. (a) (b) (c) (d) C(CH33 CH3O CH3 - Cl C-OCH CH - CH3

10. Electrolysis is used to produce many important chemicals such as chlorine, sodium hydroxide and aluminium. separate aluminium oxide from the impurities in the bauxite ore. The main impurity in...

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...