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At what rate must 400 be compounded annually for it grow to 716.40 in 10 years?
Wiki User
∙ 14y ago
6 percent.
The following values show what the value will be after every year, to two decimal places, given an annual compound interest rate of 6 percent.
Original rate: 400
After 1 year: 424
After 2 years: 449.44
After 3 years: 476.41
After 4 years: 504.99
After 5 years: 535.29
After 6 years: 567.41
After 7 years: 601.45
After 8 years: 637.54
After 9 years: 675.79
After 10 years:716.40
Wiki User
∙ 14y ago
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In how many years your amount will be double if rate of interest is 10 percent annually in compound interest?
Approximately 7 years. The general rule is to divide 70 by the interest rate to get an approximation of how long it will take to double. If the interest is compounded annual you will have $194.88 after 7 years, and $214.37 after 8 years. Though if interest is compounded more regularly (ie. monthly or daily) this will grow at a slightly faster rate.
How many years will it take for a 50 investment to grow to 1000 if it is compounded continuously at a rate of 5 percent?
59.91
How many years will it take for an initial investment of 25000 to grow to 80000 at a rate of interest of 7 percent compounded continously?
"Continuously" is exactly how this question arrives on WikiAnswers. Someone has distributed an exam or a homework assignment with a poorly written question on it, and a lot of people are coming here to get the answer. WikiAnswers is not here to answer exam or homework questions. But the best response to this one isn't a numerical 'answer'. It's this: There's no such thing as "compounded continously", even if the spelling were corrected. The compounding interval must be specified, no matter how short it may be. Popular compounding intervals include: Annually, semi-annually, quarterly, monthly, weekly, or daily. Technically, it could even be hourly, or minutely, but it has to be specified. Compounding is a discrete process, and can never proceed "continuously".
Approximately how long will it take for 1000 to grow to 5006 at 8 annual interest and compounded 12 times per year?
Use the equation $=$0*(1 + r)xn where $ is the amount of money, $0 is the initial amount of money, r is the rate, x is the number of times per year the interest is compounded, and n is the number of years the interest is compounded. We are solving for n. To do this we need to use logs. log(1 + r)($/$0)/x = n log1.08(5006/1000)/12 = n = 1.744 years.
How much will 6000 for 6 years at 8 and a half percent compounded daily will grow?
Continuous interest formula, A = Pe^(rt)....where A is the accumulated amount, P is the initial investment, r is the interest rate expressed as a decimal, and t is the time - usually in years. Then, A = 6000e^(0.085 x 6) = 6000e^0.51 = 9991.75 So the growth amount is, 9991.75 - 6000.00 = 3991.75
How long will it take 16 dollars to grow to 81dollars with 50 percent interest compounded annually?
4 years exactly.
How many years will it take for an initial investment of 200 to grow to 544 if it is invested today at 8 percent compounded annually?
n=? PV=-$200 FV=$544 i=8% it will take 13 yrs
What is will 6000 for 6 years at 8½ percent compounded daily grow to?
If the annual equivalent rate of interest is 8.5 percent then it makes no difference how frequently it is compounded. The amount will grow to 9788.81 On the other hand 8.5 percent interest daily is equivalent to 8.7 trillion percent annually! If my calculation is correct, after 6 years the amount will have grown to 2.85*10198 (NB 10200 = googol squared).
In how many years your amount will be double if rate of interest is 10 percent annually in compound interest?
Approximately 7 years. The general rule is to divide 70 by the interest rate to get an approximation of how long it will take to double. If the interest is compounded annual you will have $194.88 after 7 years, and $214.37 after 8 years. Though if interest is compounded more regularly (ie. monthly or daily) this will grow at a slightly faster rate.
How many years will it take for a 50 investment to grow to 1000 if it is compounded continuously at a rate of 5 percent?
59.91
How many years will it take for a 50 investment to grow to 100 if it is compounded continuously at a rate of 10 percent?
in 8 years it wll be 107.179
How long will it take for 5700 to grow to 34800 at an interest rate of 3.8 percent if the interest is compounded continuously?
48.51 years, approx.
What is the answer of the balance in the compound interest account 1400 after 3 years at 5.5 percent?
The question doesn't tell us the compounding interval ... i.e., how often theinterest is compounded. It does make a difference. Shorter intervals makethe account balance grow faster.We must assume that the interest is compounded annually ... once a year,at the end of the year.1,400 x (1.055)3 = 1,643.94 (rounded)at the end of the 3rd year.
How many inches does a oak tree grow annually?
12
How many years will it take for a 100 investment to grow to 700 if it is compounded continuosly at a rate of 9 percent?
Using the continuous compounding formula, the investment will take approximately 15.3 years to grow to 700.
How many years will it take for an initial investment of 25000 to grow to 80000 at a rate of interest of 7 percent compounded continously?
"Continuously" is exactly how this question arrives on WikiAnswers. Someone has distributed an exam or a homework assignment with a poorly written question on it, and a lot of people are coming here to get the answer. WikiAnswers is not here to answer exam or homework questions. But the best response to this one isn't a numerical 'answer'. It's this: There's no such thing as "compounded continously", even if the spelling were corrected. The compounding interval must be specified, no matter how short it may be. Popular compounding intervals include: Annually, semi-annually, quarterly, monthly, weekly, or daily. Technically, it could even be hourly, or minutely, but it has to be specified. Compounding is a discrete process, and can never proceed "continuously".
Approximately how long will it take for 1000 to grow to 5006 at 8 annual interest and compounded 12 times per year?
Use the equation $=$0*(1 + r)xn where $ is the amount of money, $0 is the initial amount of money, r is the rate, x is the number of times per year the interest is compounded, and n is the number of years the interest is compounded. We are solving for n. To do this we need to use logs. log(1 + r)($/$0)/x = n log1.08(5006/1000)/12 = n = 1.744 years.
