At what rate of interest, compounded annually will an investment triple itself in 8 years?
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At what rate of interest, compounded annually will an investment triple itself in 8 Show
 Q: How long will it take the money to triple itself if invested at 8% compounded annually A: interest rates are the rates at which the investment will be calculated and returns will be… Q: What is the effective interest rate per month if the interest rate is 9% compounded continuously? A: The effective interest rate refers to the rate of interest that paid on an investment after to take… Q: If $ 5000 shall accumulate for 10 years at 8% compound quarterly. Find the compounded interest at… A: Given information is: Principal amount (P)= $5,000 Time period (t)= 10 years Interest rate (r)= 8%… Q: At what annual rate of interest, compounded quartile will money double in (3+R) years? A: We are going to set up the mathematical equation to answer this question. 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Q: Calculate, to the nearest cent, the future value FV (in dollars) of an investment of $10,000 at the… A: Future value of the investment can be defined as the accumulation of invested money at the given… Q: The compound interest on a certain sum of money for 2 years is $ 52.00 and the simple interest for… A: GIVEN Simple Interest for two years is 50P×T×R / 100 = SimpleInterest P×2×R = 50 Q: The compound interest on a certain sum of money for 2 years is $ 52.00 and the simple interest for… A: The rate of interest is charged by the lender on the principal amount for using its money. Q: What deposit today is required for it to be worth $150,000 in 25 years if the deposit earns 5%… A: Interest is the cost of borrowing. Compound interest is calculated on the principal amount as well… Q: If the nominal annual interest rate is 5% compounded monthly, what is the effective interest rate? A: Effective annual rate=E Annual percentage rate=APR No. of compounding period=n Given: APR=5%=0.05… Q: What single amount at the end of the sixth yearis equivalent to a uniform annual series of $7,500per… A: Annual uniform amount = 7500 Time = 10 years = 12 years Interest Rate = 10% Q: ach year a single payment of ₱1,766.00 is deposited in an account that earns 6% compounded… A: Compound interest is the interest on a loan or deposit calculated supported each the initial… Q: One invested $10,000 five years ago. The first three years, the investment earned 12% compounded… A: here we calculate the amount of money accumulated in five years as follow; Q: find the principal if the principal plus the interest at the end of one and one-half years is $3360… A: Given Principle plus interest at the end of 1.5 years is $3360 Rate of simple interest =8% per… Q: after 5 years if the account earns 8.0% interest compounded annually? 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A.Compounded… A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts… Q: How long will it take for the money to quadruple (in years) if it earns 7% compounded semi-annually? A: We will use the following Compound interest formula: Amount=Principal(1+i/m)mt Given that principle… Q: What is the effective annual interest rate if the nominal interest rate is 6%, compounded monthly? A: To calculate the effective annual interest rate if the nominal interest rate is given as 6%… Q: Simple and Compound Interest . Calculate the amount deposited 1 year ago to have SR1000 now at an… A: An interest rate is the amount of interest due per period, as a proportion of the amount lent,… Q: How much interest is earned in 2 years on $4000 deposited in an account paying 6% interest,… A: Given information: Principal amount (P): $4,000 Interest rate (r): 6% Compunding period (m): 4… Q: ompute the effective annual interest rate which is equivalent to 5% nominal annual interest… A: A nominal interest rate and an effective yearly interest rate may be advertised on a savings account… Q: A professor invested some money for college expenses for his grandson. He invested $10,000 into an… A: Compound interest formula: A =P(1+rn)nt Q: .How long it take money to quadruple if it earns 3% compounded daily 16636 days 16637 days 16867… A: Let the initial amount is x. It will become 4x in n days. Rate of interest is 3% compounded daily.… Q: Recently, Money Money 4U offered an annuity that pays 5.4% compounded monthly. If $1,540 is… A: Money is a commodity accepted by general consent as a medium of economic exchange. It is the medium… Q: Q1: A sum of $2000 borrowed at 16% compounded daily for 2 years, state (a) The nominal rate of… A: Given data: Present value P=$2000 Rate 16% compounding daily. Time t=2 years Q: Suppose that $5000 is deposited in a saving account at the rate of 6% per year. Find the total… A: Given: Principal = $ 5000 Rate of interest = 6% per year Time = 4 years n = 365 ( since it is… Q: An investment company pays 33% compounded semiannually. You want to have$23,000 in the future.… A: Click to see the answer Q: How long should ₱50,000 be invested at 6% compounded semi-annually if it should earn an interes A: Principal amount is given which is equal to 50,000. We are required to find out the number of years… Q: Calculate, to the nearest cent, the future value FV (in dollars) of an investment of $10,000 at the… A: Given:PV=$10,000r=7%=7100=0.07t (number of years)=9n (number of compounding)=365 (daily) Q: If the interest rate is 6% compounded quarterly, how long (number of quarters) will it take to earn… A: The interest income on any instruments such as bank deposits and bonds is the amount received over… Q: How long will it take for an investment to double at a 3% per year compound interest rate. A: Interest is the cost of capital in the context of borrowed funds. Q: John borrows $10,000 at 18% compounded annually. He pays off the loan over a 5-year period with… A: The loan amount is $10,000, the interest rate is 18%, and the time period is 5 year. Let us consider… Q: John borrows $10,000 at 18% compounded annually. He pays off the loan over a 5-year period with… A: A loan helps an individual to borrow and spend on his/her current needs. However, an interest rate… Q: Compute the effective annual interest rate which is equivalent to 5% nominal annual interest… A: The formula for calculating the effective annual interest rate compounded continuously is given by r… Q: %, compounded bimonthly. What future amount is due at the end o an period? Draw a cashflow diagram… A: Future worth is the worth of a resource at a particular date. It estimates the ostensible future… Q: What interest rate compounded monthly is equivalent to 10% effective rate? A: We are assuming that the effective rate is annual. Q: What interest rate compounded monthly is equivalent to 10% effective rate? A: Effective rate = 10% Q: What interest rate compounded monthly is equivalent to 10% effective rate? A: Given, Q: You are taking a $5000 loan. You will pay it back in four equal amounts, paid every 6 months… A: The effective annual interest rate is the interest rate that is actually earned or paid on an… Q: Jay wishes his son,Jayson to receive 1000000 twenty years from now. What amount should he invest… A: Future value = 1000000 Interest rate compounded annually = 12% Interest rate compounded monthly =10% Q: Jay wishes his son,Jayson to receive 1000000 twenty years from now. What amount should he invest… A: Click to see the answer Q: A man bought an equipment costing P60,000 payable in 12 quarterly payments each installment payable… A: Quarterly compounding refers to the amount of interest earned on a quarterly basis on an account or… Q: If you deposit $2000 into a fund paying 4% interest compounded monthly, how much can you withdraw at… A: Amount of withdraw at the end of the each month is denoted as A and present value is denoted as P.… Knowledge Booster Learn more about Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below. SEE MORE QUESTIONS Recommended textbooks for you ENGR.ECONOMIC ANALYSIS ISBN:9780190931919 Author:NEWNAN Publisher:Oxford University Press Principles of Economics (12th Edition) ISBN:9780134078779 Author:Karl E. Case, Ray C. Fair, Sharon E. 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Gregory Mankiw Publisher:Cengage Learning Managerial Economics: A Problem Solving Approach ISBN:9781337106665 Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor Publisher:Cengage Learning Managerial Economics & Business Strategy (Mcgraw-... ISBN:9781259290619 Author:Michael Baye, Jeff Prince Publisher:McGraw-Hill Education How long will it take money to triple itself if invested at 8 compounded annually?The answer to the question is 14.3 years.
What rate of interest compounded annually is required to triple an investment in eight years?That is, the rate of interest must be 14.72%.
What rate of interest compounded annually is required to triple an investment in 5 years?Thus, the interest rate should be 24.57%.
At what rate of interest compounded annually will money Triple itself in 15 years?1 Answer. At a rate of interest of 3.86% compounded annually investment will be tripled.
At what interest rate compounded quarterly will money Triple itself in 10 years?Detailed Solution
Money triple in 10 years. Calculation: Let the principal be 'x'. ∴ The annual rate of interest is 20%.
At what interest rate quarterly Will an investment double itself after 8 years?If you want your money to double every 8 years, you will need to earn an interest rate of 9% (72 divided by 8).
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