Your client invests $10,000 today at a rate of return of 7.7% compounded quarterly. Rounded to the

Question:

Your client invests $10,000 today at a rate of return of 7.7% compounded quarterly. Rounded to the nearest month, how long will it take the investment to grow to $22,000? (Taken from CIFP course materials.)

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 07:32 AM

See More Questions

A number of years ago, your client invested $6000 at a rate of return of 9% compounded annually. If the investment is currently worth $10,968.25, for how long has she held the investment? (Taken from...
An aggressive stockbroker claims an ability to consistently earn 12% per year on an investors money. A client invests $10,000 now, $30,000 three years from now, and $8000 per year for 5 years...
Assume that today is March 7, and, as the newest hire for Goldman Sachs, you must advise a client on the costs and benefits of hedging a transaction with options. Your client (a small U.S. exporting...
We look at the accumulated area beneath this curve, as in the definite integral as follows F(x) = f(t) dt -2 { F(x) = int_(-2)^x f(t) dt a) Use ordinary area formulas to compute each of the...
The Mcquire Company is considering acquiring 100% of the Sosa Company. The management of Mcquire fears that the acquisition price may be too high. Condensed financial statements for Sosa Company for...
Simplify the following expressions by collecting together like terms: (a) 2x + 3y + 4x y (b) 2x 2 5x + 9x 2 + 2x 3 (c) 5xy + 2x + 9yx (d) 7xyz + 3yx 2zyx + yzx xy (e) 2(5a + b) 4b (f) 5(x 4y)...
Using $q_{0.05}=4.041$ for the Tukey HSD method, compare the pollution levels of the three agencies in Exercise 12.47. Data From Exercise 12.47 12.47 Samples of groundwater were taken from 5...
Biomass combustion-burning of forests, grasslands, agricultural wastes, and other biological matter-is recognized as a serious threat to the environment.8 The table below shows the distribution of...
Calculate the stock's expected return for A stock's return with the following distribution: Products Demand Demand Rate Demand % Weak 0.2 30% Below average 0.2 10% Average 0.3 16% Above average...
During the month of May 20--, The General's Favorite Fishing Hole engaged in the following transactions. These transactions required an expansion of the chart of accounts as shown below. May 1 In...
Your client wants to invest a $250,000 inheritance and grow it to $325,000. Rounded to the nearest month, how long will this take if the investment earns 7% compounded annually? (Taken from CIFP...
Rounded to the nearest month, how long will it take money to lose half of its purchasing power if the annual inflation rate is: a. 2.5%? b. 3.5%?
Which one of the following items is not required to be included in a companys periodic 8-K report filed with the SEC when significant events occur? a. Acquisition or disposition of a significant...
a. What is a GIC? b. Does a GIC carry a "guarantee" like a government obligation?
What are some key differences between a mutual fund and an annuity?
Describe the differences and similarities of the conduct of Chairmen Greenspan and Bernanke in managing Fed policy.
In January 1992, the Korea Development Bank issued $\$ 500$ million of bonds in the United States. From the perspective of the U.S. financial market, indicate whether this issue is classified as...
a. Does the $\mathrm{SEC}$ regulate all insurance companies? b. If not, who regulates them?
Sketch the interval (a, b) on the x-axis with the point c inside. Then find a value of < 0 such that for all x, 0 < | x - c | < a < x < b. a = 1, b = 7, c = 2
On October 31 Juanita Ortega, owner of Outback Guide Service, received a bank statement dated October 30. Juanita found the following: 1. The checkbook has a balance of $2,551.34. 2. The bank...
Find the following values, using the equations, and then work the problems using a financial calculator to check your answers. Disregard rounding differences. (Hint: If you are using a financial...
Use equations and a financial calculator to find the following values. See the hint for Problem 2-1. a. An initial $500 compounded for 10 years at 6 percent. b. An initial $500 compounded for 10...
To the closest year, how long will it take $200 to double if it is deposited and earns the following rates? [Notes: (1) See the hint for Problem 2-1. (2) This problem cannot be solved exactly with...
What is the minimum quantity firms need to sell in order to start earning profit given insurance costs of $50,000, materials o per unit, and break even quantity is 1500?
Assume a 10% discount rate and compute the present value of Rs. 1100, Rs.900, Rs.1500 andRs.700 received at the end of 1-4 years In the above sum if the amounts are received at the beginning of the...
Recall that an FX rate XXXYYY = Bid/Offer gives the rate of YYY per XXX. You can buy XXX/sell YYY at the offer price and sell XXX/buy YYY at the bid price. EURUSD is trading at 1.4760/1.4763 USDJPY...

Your client invests $10,000 today at a rate of return of 7.7% compounded quarterly. Rounded to the

Question:

Step by Step Answer:

Given PV 10000 FV 22000 j 77 m 2 Round...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions