Question
In: Finance
If an investment of $40,000 is earning an interest rate of 8.00%, compounded annually, then it will take 4.50 years for this investment to reach a value of $56,554.46—assuming that no additional deposits or withdrawals are made during this time.
Please show excel calculations
If an investment of $40,000 is earning an interest rate of 8.00%, compounded annually, then it will take 4.50 years for this investment to reach a value of $56,554.46—assuming that no additional deposits or withdrawals are made during this time.
Which of the following statements is true—assuming that no additional deposits or withdrawals are made?
If you invest $5 today at 15% annual compound interest for 82.3753 years, you’ll end up with $100,000.
If you invest $1 today at 15% annual compound interest for
82.3753 years, you’ll end up with $100,000.
Solutions
Expert Solution
1)
Check Formula in Formula Tab.
2)
Therefore, 2nd statement is True
jeff jeffy answered 2 years agoRelated Solutions
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