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

Distribution of sample distribution or sampling means , Distribution of Sam...

Distribution of Sample distribution or Sampling means A sample of size n is taken from the parent population and mean of the sample is estimated. It is repeated for a number o

Proportions, How would you solve this question? 4/5 = 8/x+2

How would you solve this question? 4/5 = 8/x+2

Process for solving linear equations, 1. If the equation has any fractions ...

1. If the equation has any fractions employ the least common denominator to apparent the fractions. We will do this through multiplying both sides of the equation by the LCD. Al

How many rolls will she required to purchase, Karen is buying a wallpaper b...

Karen is buying a wallpaper border for her bedroom, that is 12 ft by 13 ft If the border is sold in rolls of 5 yards each, how many rolls will she required to purchase? The dis

Determine if the three vectors lie in similar plane or not, Determine if th...

Determine if the three vectors a → = (1, 4, -7), b → = (2, -1, 4) and c → = (0, -9, 18) lie in similar plane or not. Solution Thus, as we noted prior to this example al

Discount, outdoor grill- regular price:$360 discount:33 1/3%

outdoor grill- regular price:$360 discount:33 1/3%

Limits, evaluate limit as x approaches 0 (x squared times sin (1/x)

evaluate limit as x approaches 0 (x squared times sin (1/x)

Project, transportation problem project

transportation problem project

Substitution rule, Substitution Rule ∫ f ( g ( x )) g′ ( x ) dx = ∫ f (...

Substitution Rule ∫ f ( g ( x )) g′ ( x ) dx = ∫ f (u ) du,     where, u = g ( x ) we can't do the following integrals through general rule. This looks considerably

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