Time to accumulate a given sum personal finance problem manuel rios wishes to determine how long it will take an initial deposit of $12 comma 00012,000 to double.
a. if manuel earns 1313 % annual interest on the deposit, how long will it take for him to double his money?
b. how long will it take if he earns only 1010 % annual interest?
c. how long will it take if he can earn 1515 % annual interest?
d. reviewing your findings in parts a , b , and c , indicate what relationship exists between the interest rate and the amount of time it will take manuel to double his money.
a. if manuel earns 1313 % annual interest, the amount of time to double his money is nothing years. (round to two decimal places.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Time to accumulate a given sum personal finance problem manuel rios wishes to determine how long it will take an initial deposit of $12 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The person who signs a note receivable and promises to pay the principal and interest is the:
Answers (1)
Young married couples that find themselves running out of money at the end of the month might be well advised to:
Answers (1)
If the expected proportionate change in the nominal exchange rate, measured in units of domestic currency per unit of foreign currency, is 2 % and the domestic interest rate is 6 %, then according to the uncovered interest parity condition, the
Answers (1)
Xyz corporation has income before taxes of $2 million and received $100,000 in preferred dividends from a company in which it owns 25% of the outstanding shares. if xyz corporation is in the 34% tax bracket, it will pay taxes of
Answers (1)
1. Why does the store not want any seasonal merchandise left over at the end of a season?
Answers (1)
New Questions in Business
At the beginning of the period, the Assembly Department budgeted direct labor of $110,000, direct materials of $170,000, and fixed factory overhead of $28,000 for 8,000 hours of production.
Answers (1)
Sunny Day Manufacturing Company has a current stock price of $33.35 per share, and is expected to pay a per-share dividend of $2.03 at the end of the year.
Answers (1)
Which is a basic economic question that must be answered by all economic systems? a How will goods and services be produced? b How will government collect income taxes? c What will be the amount of the minimum wage for workers?
Answers (1)
El Tapatio purchased restaurant furniture on September 1, 2021, for $43,000. Residual value at the end of an estimated 10-year service life is expected to be $5,800.
Answers (1)
As you consider the factors of production, which of the following did management theorist Peter Drucker believe to be one of the most important contributing factors to increasing our nation's wealth? a. Landb. Laborc. Knowledged. Capital
Answers (1)