Question
In: Finance
Juan Arancho has $17,000 and would like to double his money in 9 years. What rate...
Juan Arancho has $17,000 and would like to double his money in 9
years. What rate would he need to earn to reach his goal?
A) 8.0060%
B) 7.7763%
C) 7.8518%
Solutions
jeff jeffy answered 2 years agoRelated Solutions
Juan Arancho has $12,000 and would like to double his money in 8 years. What rate would he need to earn to reach is goal?
Juan Arancho has $12,000 and would like to double his money in 8
years. What rate would he need to earn to reach is goal? A. 9.0508% B. 8.8548% C. 8.7589%
At an interest rate of 9 percent, an investment of $1 would double in 8.04 years....
At an interest rate of 9 percent, an investment of $1 would
double in 8.04 years. How long to the nearest year would it take an
investment of $1 to grow four fold (4 times) if the interest rate
was only 4 percent?
a.
12 years
b.
24 years
c.
36 years
d.
48 years
e.
96 years
Abu Saud would like to give his son a sum of money in 4 years if...
Abu Saud would like to give his son a sum of money in 4 years
if he is successful in completing his study. His son plans to use
the money to buy a car which will cost SAR 60,000.
a. What would be the amount he needs to give to his son now to
reach the goal of buying the
car if the money is invested in an account with a return of
10% compounded annually? b. If Abu Saud...
Ahmad is looking for an investment tool that will double his money in five years. a)...
Ahmad is looking for an investment tool that will double his
money in five years.
a) What interest rate (compounded annually), to the nearest
whole percentage, does he have to receive?
b) At that rate, how long will it take the money to triple?
ANS
a) 15% b) 7.86 years OR 7 years 10 months
Pls attach the formula used, and explain in detail. Pls do not
answer in excel format. Thank you in advance.
Jeremy would like to retire in 25 years. He would like his retirement income to be...
Jeremy would like to retire in 25 years. He would like his
retirement income to be $250,000, and this figure should grow at
the same rate as inflation, expected to be 2 percent annually. He
expects to live 30 years after he retires, and plans to leave $3
million to TYU after he dies.
Jeremy currently has $1,000,000 in
his retirement fund. The fund is expected to earn 6 percent
annually. Assuming that Jeremy increases his annual retirement
savings by...
James would like to invest some money every year-end for 17 years in a money market...
James would like to invest some money every year-end for 17
years in a money market account earning 5% per year, and then begin
to withdraw money from the account to finance his son’s education
for 4 years. James thinks that his son should have $35,000 for the
first year of college at the start of the 19th year, and would like
to increase that amount by 4% every year to compensate for
inflation. How much will James’ first deposit...
James would like to invest some money every year-end for 17 years in a money market...
James would like to invest some money every year-end for 17
years in a money market account earning 5% per year, and then begin
to withdraw money from the account to finance his son’s education
for 4 years. James thinks that his son should have $35,000 for the
first year of college at the start of the 19th year, and
would like to increase that amount by 4% every year to compensate
for inflation. How much will James’ first deposit...
At 10.2 percent interest, it would take ______ years to double your money. (Round your answer...
At 10.2 percent interest, it would take ______ years to double
your money. (Round your answer to 2 decimal places. (e.g.,
32.16))
Your Answer:
Bilbo Baggins wants to save money to meet his retirement objectives. He would like to be...
Bilbo Baggins wants to save money to meet his retirement
objectives. He would like to be able to retire 30 years from now
with a retirement income of $13,174 per month for 20 years, with
the first payment received 30 years and 1 month from now. After he
passes on at the end of the 20 years of withdrawals, he would like
to leave an inheritance of $751,229 to his nephew Frodo. Before his
retirement, he plans to deposit $2,000...
Kirk Van Houten, who has been married for 21 years, would like to buy his wife...
Kirk Van Houten, who has been married for 21 years, would like
to buy his wife an expensive diamond ring with a platinum setting
on their 30-year wedding anniversary. Assume that the cost of the
ring will be $10,500 in 9 years. Kirk currently has $4,433 to
invest. What annual rate of return must Kirk earn on his investment
to accumulate enough money to pay for the ring?
The annual rate of return Kirk must earn on his investment to...
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