What is the nominal annual rate of interest at which money will triple itself in 12 years
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
Let PV 1 FV 3 n 12 CY 1 1 i 12 3 ...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
What is the nominal annual rate of interest compounded monthly that is equivalent to 8.5% compounded quarterly?
-
What is the nominal annual rate of interest compounded quarterly at which $420 will accumulate to $1000 in nine years and six months?
-
What is the nominal annual rate of interest compounded quarterly that is equivalent to an effective annual rate of 5%?
-
North Folk Dairy has an unused bank revolving credit of $50 million. North Folk Dairys vendor provided an invoice in the amount of $100,000 with payment terms of 2/10, net 45. Compute the nominal...
-
Education reform is one of the most hotly debated subjects on both state and national policy makers list of socioeconomic topics. Consider a linear regression model that relates school expenditures...
-
Based on the information given in the following diagrams, which substance has the lower boiling point?
-
Why does the accounting for postretirement health care obligations create so much more difficulty for accountants and auditors than the accounting for and auditing of payroll expense?
-
Retail Inventory Method Fuque Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month...
-
On November 1, 2017, Hunter opened a sandwich shop in Northridge across the street from a sandwich shop run by Donald. Donald's sandwich shop had been in business for 10 years and had made between...
-
Jenco Incorporateds only product is a combination fertilizer-weed killer called Fertikil. Fertikil is sold nationwide through normal marketing channels to retail nurseries and garden stores. Taylor...
-
At what nominal rate of interest will money triple itself in 9 years and 2 months if compounded monthly?
-
Yin li deposited $800 into a savings account that compounded interest monthly. What nominal annual rate compounded monthly was earned on the investment if the balance was $952.75 in five years?
-
Critically evaluate and conclude what is more important to a business profit or cash? Why?
-
You are given a sheet of fibrous connective tissue to investigate. The tissue fibers run in a single direction. When subjected to biaxial testing of forces f and f2, the tissue 1 undergoes a...
-
A beam is composed of two channels, C 811.5, as shown in the following figure. The beam is supported at the left end by a in- round eye bar. A % in pin is used at each eye. The beam is supported at C...
-
Determine the temperatures at which the values of Vrms, , and Vmp for CH4 (considered to be a gas of point-particles) become supersonic. (Supersonic velocities are larger than Mach-1 = 346.27 m/s in...
-
A balloon having a volume of 10,000 cu ft is filled with hot air at atmospheric pressure and a temperature of 280 F. If the temperature of the surround- ing air is 77 F and the weight of the balloon...
-
Communications satellites are often put into geosynchronous orbit (GEO). This is an orbit that keeps the satellite over a fixed point on the equator. The rocket launches the satellite into a...
-
What is an employer-provided fringe benefit?
-
Willingness to pay as a measure of a person's value for a particular good measures the maximum a person would be willing to pay requires that payment actually be made depends on the satisfaction that...
-
The Bamboo Furniture Company manufactures rattan patio furniture. It has just purchased a machine for $ 13,500 to cut and glue the pieces of wood. The machine is expected to last five years. If the...
-
Tristin and Kim Denley are establishing a college fund for their 1-year-old daughter, Chloe. They want to save enough now to pay college tuition at the time she enters college (17 years from now). If...
-
Kathy and Patrick Mowers have a 12-year-old daughter and are now in a financial position to begin saving for her college education. What annual sinking fund payment should they make to have her...
-
Write a java program to perform swapping of two numbers?
-
Consider the general case of a block of mass MB hanging at rest and a dart of mass mo moving horizontally with speed vo. The dart hits and embeds in the block, and the center of mass of the...
-
3 kg of water, originally at 10 degrees Celsius, is mixed with 10 kg of lead. The final result at equilibrium is 16 degrees Celsius. Find the initial temperature of the lead. C = 4186 kg-C (specific...
Study smarter with the SolutionInn App