calculate annual interest rate, Mathematics

Assignment Help:

1. What is the present value of a security that will pay $15,000 in 15 years if securities of equal risk pay 8.9% annually? Round your answer to the nearest cent.

475,858.20

2. Your parents will retire in 15 years. They currently have $270,000, and they think they will need $1 million at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.

3. If you deposit money today in an account that pays 7.7% annual interest, how long will it take to double your money? Round your answer to the nearest whole.

 


Related Discussions:- calculate annual interest rate

Division, there are 2,500 chips in a bag you slit them up into 20 groups ho...

there are 2,500 chips in a bag you slit them up into 20 groups how many chips are in a group

Relative maximum point, Relative maximum point The above graph of the ...

Relative maximum point The above graph of the function slopes upwards to the right between points C and A and thus has a positive slope among these two points. The function ha

What is the probability that the dart will land in the shade, In the adjoin...

In the adjoining figure a dart is thrown at the dart board and lands in the interior of the circle. What is the probability that the dart will land in the shaded region. A

One of these food groups, In a collection of 30 dissimilar birds, 15 eat wo...

In a collection of 30 dissimilar birds, 15 eat worms, 18 eat fruit, and 12 eat seeds. Accurately 8 eat worms and seeds, 8 eat worms and fruit, 7 eat fruit and seeds, and 4 eat each

Simplified radical form, If we "break up" the root into the total of two pi...

If we "break up" the root into the total of two pieces clearly we get different answers. Simplified radical form: We will simplify radicals shortly so we have to next

What are complex numbers, Q. What are Complex numbers? Ans. Comple...

Q. What are Complex numbers? Ans. Complex numbers are numbers of the form a + bi, where a and b are real numbers and i is a special number called the imaginary unit, which

Example of factor by grouping, Factor by grouping each of the following. ...

Factor by grouping each of the following. 3x 2 - 2x + 12x - 8 Solution           3x 2 - 2x + 12x - 8 In this case we collect the first two terms & the final two te

Logarithm functions, Logarithm Functions : In this section we'll discuss l...

Logarithm Functions : In this section we'll discuss look at a function which is related to the exponential functions we will learn logarithms in this section. Logarithms are one o

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd