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How many years will it take for an initial investment of 19000 to grow to 38500 Assume a rate of interest of 13 percent compounded daily?
Wiki User
∙ 11y ago
13% daily is worse than any loan shark!
Suppose it takes n days, then
38500 = 19000*(1 + 13/100)n= 19000*(1.13)n
So 38500/19000 = 1.13n
ln(38500/19000) = n*ln(1.13)
so that n = ln(38500/19000) / ln(1.13) = 5.78
So 6 days.
Wiki User
∙ 11y ago
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How much less interest is earned at 6 percent simple interest for 5 years on a 10000 investment than a 6 percent rate compounded daily for 5 years?
3000
How many years will it take an investment to triple at 8 percent interest compounded monthly?
At 8% per month, compounded, it will take just 1.2 years. However, with monthly interest such that its annual compounded equivalent is 8% (roughly 0.64% each month), it will take 14.27 years.
What is the interest rate of 13.75 percent compounded monthly is equivalent to a daily compounded interest rate?
14.651
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It depends how the interest is calculated. If it's compounded, your initial 500 investment would be worth 638.15 after 5 years.
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Interest = 2472
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$44,440.71
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$1480.24
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3000
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How many years will it take an investment to triple at 8 percent interest compounded monthly?
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14.651
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