0
How long will it take to double principal if invested at 5.25 compounded quarterly?
Wiki User
∙ 16y ago
The simple answer is approximately 13.7 years using the rule of 72. Interest paid quarterly will affect the answer a little, but not enough to matter.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
A sum of money invested at 4 percent interest compounded semiannually will double in amount in aprproximately how many years?
I haven't gotten the answer to that test question either....the choices seem wrong
Does Interest Compounded semi-annually double every year?
No.
How long does an investment earning 9 percent take to double in value?
8.0432 years (rounded) if compounded annually.
Six thousand dollars is deposited into a fund at an annual rate of 13 percent find the time required for the investment to double if the interest is compounded continuously?
the equation for compound interest is Pe^(rt) the principal you want in the end is twice that of the original 12,000 plugging in and solving you get 12,000=6000e^(.13t) t = 5.33 years
Show steps to solving 8000 invested for 7 years at 8 percent compounded annually?
The basic equation for compounded interest is: FV=PV(1+i)^nt FV=future value PV=present value i=interest compounded per term n=number of times compounded per year t=number of years For this situation: FV=? PV=8000 i=.08 n=1 t=7 Plugging the numbers into the equations gives you FV=8000(1+.08)^7 Solving gives you the amount of 13710.59 A way to roughly check your answer is to use the rule of 72. The rule of 72 is a method of seeing how long it would take to double ones money at a certain interest percent. The interest is 8% so divide 72 by 8 and you get 9. So at 8 percent it would take about 9 years to double your money. Since we only had 7 years, it makes sense that we did not double our money, but we fairly close to doing so, meaning that our answer is viable. This is only a way to roughly check the answer.
A sum of money invested at 4 percent interest compounded semiannually will double in amount in aprproximately how many years?
I haven't gotten the answer to that test question either....the choices seem wrong
Does Interest Compounded semi-annually double every year?
No.
How long will it take for money to double in a savings account that is compounded continuously?
Five years
What interest rate is required for an investment with continuously compounded interest to double in 8 years?
It is approx 8.66%
How long does an investment earning 9 percent take to double in value?
8.0432 years (rounded) if compounded annually.
In how many years will 400 double itself if it is loaned at 6 p.a. compounded semiannually?
It will take 11.9 (or 12) years.
Six thousand dollars is deposited into a fund at an annual rate of 13 percent find the time required for the investment to double if the interest is compounded continuously?
the equation for compound interest is Pe^(rt) the principal you want in the end is twice that of the original 12,000 plugging in and solving you get 12,000=6000e^(.13t) t = 5.33 years
How do you write a sentence using the word principal?
There are many ways to use the word principal in a sentence: 1. Who is the principal of Howard College? 2. The sum of interest he paid on that loan is double the principal 3. Aderogba will play the principal role in the next movie.
How many years will it take for an investment to double if the interest rate is 8 percent per year compounded annually?
11 years
How long would it take 100 to double 5 percent?
As a rough guide to double any amount compounded annually, divide 70 by the interest rate. In this case that is 14 years.
How much is double SAG scale for a principal in a National commercial?
Scale is $592.20, so double scale is $1184.40.
Show steps to solving 8000 invested for 7 years at 8 percent compounded annually?
The basic equation for compounded interest is: FV=PV(1+i)^nt FV=future value PV=present value i=interest compounded per term n=number of times compounded per year t=number of years For this situation: FV=? PV=8000 i=.08 n=1 t=7 Plugging the numbers into the equations gives you FV=8000(1+.08)^7 Solving gives you the amount of 13710.59 A way to roughly check your answer is to use the rule of 72. The rule of 72 is a method of seeing how long it would take to double ones money at a certain interest percent. The interest is 8% so divide 72 by 8 and you get 9. So at 8 percent it would take about 9 years to double your money. Since we only had 7 years, it makes sense that we did not double our money, but we fairly close to doing so, meaning that our answer is viable. This is only a way to roughly check the answer.
