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How many years it take an investment to triple

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Reference no: EM13969665

QUESTION 1. State the amount accumulated by each of the following present investmens:

a) $4,000 in 10 years at 8% compounded annually.

b) $10,000 in 8 years at 12% compounded annually.

QUESTION 2. State the present worth of the following future payments:

a) $6,600 five years from now at 14% compounded annually.

b) $12,000 eight years from now at 7% compounded annually.

QUESTION 3. How many years it take an investment to triple if the interest rate is 7% compounded annually?

Reference no: EM13969665

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