How many years would it take for an investment to double in dollar terms if invested...

How many years would it take for an investment to double in dollar terms if invested at 4%p.a.?

Please give your answer to the nearest whole number

Solutions

Expert Solution

we can calculate manually

FV = PV (1+i)n

2 = 1 * ( 1.04)n

(1.04)n = 2

apply log on both sides

n log (1.04) = log (2)

n = log (2) / Log(1.04) = 0.30102999566 / 0.0170333392

n =17.67299 year = 18 year

jeff jeffy answered 1 year ago

Next > < Previous

Related Solutions

If Tyler Corporation invested $10,000 today, how many years will it take for it to double...

If Tyler Corporation invested $10,000 today, how many years will it take for it to double its investment if the annual interest rate is 6%? Round to nearest whole number. N= I = PV = PMT = FV = P/Y=

How long does it take for an investment to double in value if it is invested...

How long does it take for an investment to double in value if it is invested at 15?% compounded monthly??Compounded? continuously?

How many years will it take $7,000 to grow to $11,300 if it is invested at...

How many years will it take $7,000 to grow to $11,300 if it is invested at 3.25% compounded continuously?

How many years will it take $3,000 to grow to $5,700 if it is invested at...

How many years will it take $3,000 to grow to $5,700 if it is invested at 9% (A) compounded quarterly? (B) compounded continuously?

Roughly how long would it take your money to double in value ifit were invested...

Roughly how long would it take your money to double in value if it were invested at an annual rate of 7%?Select one:a. 7 yearsb. 8 yearsc. 9 yearsd. 10 years

Create an Investment application that calculates how many years it will take for a $2,500 investment...

Create an Investment application that calculates how many years it will take for a $2,500 investment to be worth at least $5,000 if compounded annually at 7.5% ( Java Programming)

How long will it take money to double if it is invested at 6% compounded monthly?...

How long will it take money to double if it is invested at 6% compounded monthly? 5.3% compounded continuously?

how long will it take money to double itself if invested at 5% compounded annually?

How many years would it take for a debt of $10,471 to grow into $34,171 if...

How many years would it take for a debt of $10,471 to grow into $34,171 if the annual compound interest rate is 6.3% with daily compounding?

How long will it take to double $1,000 if invested at 11% using annual compounding? [Approximately]...

How long will it take to double $1,000 if invested at 11% using annual compounding? [Approximately] Question 5 options: 6.65 years 5 years 7.27 years 8 years

Subjects