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Annual rate of return can you triple

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1. At what annual rate of return can you triple your money in 8 years if interest is compounded monthly?

2. At what annual rate of return can you quadruple (means 4 times) your money in 16 years, if interest is compounded quarterly?

3. How many periods will it take you to quadruple (means 4 times) your money at 7%, if interest is compounded semi-annually? how many years will it take?

4. What is the present value of $15,500 received in 10 years if interest of 1% is compounded monthly?

5. What is the present value of $22,000 received in 5 years if interest of 1% is compounded quarterly?

Reference no: EM131861916

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