Two investments to be worth exactly the same amount

Assignment Help Financial Management

Reference no: EM131874310

Two investments are made at the same time. The first consists of investing 1400 dollars at a nominal rate of interest of 10 percent convertible semiannually. The second consists of investing 1300 dollars at a nominal rate of interest of 10 percent convertible daily. How long will it take for the two investments to be worth exactly the same amount? (Assume compound interest at all times.)

Answer = years. (Be sure to give several decimal places of accuracy)

Reference no: EM131874310

Questions Cloud

How many hardcovers should be produced : The first edition hardcover of a new book by a popular writer has a demand which is uniformly distributed between 1 and 2 million.

Find the mean of the number of children in the sample : Find the mean of the number of children in the sample who wear glasses. Round your answer to the nearest integer

Explain the different types of time series : The first class of forecasting methods we cover are based on "averaging" past time series values to forecast. Restricting attention first to Moving Average.

Average weight of each bag of groceries : The questions asked for the total amount of items they purchased, the total amount of money spent on the purchase and the average weight of each bag of grocerie

Two investments to be worth exactly the same amount : How long will it take for the two investments to be worth exactly the same amount?

What is the cost of goods sold for the month of january : Tiller uses the periodic inventory system. Using the weighted-average inventory method, what is the cost of goods sold for the month of January

Approximate probability that in a set of seven invoices : What is the approximate probability that in a set of seven invoices, that there will be two or more invoices with errors.

Evaluate the level of objectivity inherent in each point : Specify the key points involved in the court determining the lawfulness of the use of force.

Calculate gross proceeds per share : Howett Pockett must pay $3.9 million in legal and other administrative expenses for the seasoned stock offering. Calculate the gross proceeds per share

User Account

All Pages