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

Calculate the value of expected value, The owner of TMH Hospital wants to o...

The owner of TMH Hospital wants to open a new facility in a certain area. He usually builds 25-, 50-, or 100-bed facilities, depending on whether anticipated demand is low, medium

Find the value of x of eagle , A fox and an eagle lived at the top of a cli...

A fox and an eagle lived at the top of a cliff of height 6m, whose base was at a distance of 10m from a point A on the ground. The fox descends the cliff and went straight to the p

What are natural numbers and whole numbers, What are Natural Numbers and Wh...

What are Natural Numbers and Whole Numbers? Natural numbers are the numbers that you "naturally" use for counting: 1, 2, 3, 4, ... The set of whole numbers is the set of

Find the area of parallelogram, Find the area of PARALLELOGRAM ? A para...

Find the area of PARALLELOGRAM ? A parallelogram is a four-sided shape, of which the opposite sides are parallel. (Because they are parallel, opposite sides also have the same

3D Trigometry problems, I have difficuties in working out those 3D trigomen...

I have difficuties in working out those 3D trigomentry problems within teh shortest possible time. Are there any tricks to get through such problems as soon as possible?

Solution process of linear differential equations, For a first order linear...

For a first order linear differential equation the solution process is as given below: 1. Place the differential equation in the correct initial form, (1). 2. Determine the i

Outer automorphism, (a) An unordered pair fm; ng with 1 ≤ m ≠ n ≤ 6 is ca...

(a) An unordered pair fm; ng with 1 ≤ m ≠ n ≤ 6 is called a duad. List the 15 duads. (b) There are 15 ways to partition {1, ......, 6 } into 3 duads, such as { {1; 2}, {3, 4},

Geometry, Ask question A triangle has two sides that measure 23 ft and 30 f...

Ask question A triangle has two sides that measure 23 ft and 30 ft. Which could be the measure of the third side? A. 5 ft B. 7 ft C. 10 ft D. 53 ft #Minimum 100 words accepted

Converting mixed numbers to improper fractions, Q. Converting Mixed Numbers...

Q. Converting Mixed Numbers to Improper Fractions? Ans. Converting a mixed number to an improper fraction is easy. A single multiplication, and then a single addition:

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