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

Bits, What is the largest number (in decimal) that can be made with 6 bits?...

What is the largest number (in decimal) that can be made with 6 bits?

Standard trig equation, "Standard" trig equation: Now we need to move into...

"Standard" trig equation: Now we need to move into a distinct type of trig equation. All of the trig equations solved to this point were, in some way, more or less the "standard"

Find the number of males and females in the village, The population of the ...

The population of the village is 5000.  If in a year, the number of males were to increase by 5% and that of a female by 3% annually, the population would grow to 5202 at the end o

Types of infinity, TYPES OF INFINITY : Mostly the students have run across...

TYPES OF INFINITY : Mostly the students have run across infinity at several points in previous time to a calculus class. Though, when they have dealt along with this, this was jus

What is conditional probability, Q. What is Conditional Probability? A...

Q. What is Conditional Probability? Ans. What is the probability that George will pass his math test if he studies? We can assume that the probabilities of George passing

Example for comparison test for improper integrals, Example for Comparison ...

Example for Comparison Test for Improper Integrals Example:  Find out if the following integral is convergent or divergent. ∫ ∞ 2 (cos 2 x) / x 2 (dx) Solution

find out the dimensions which will minimize, We desire to construct a box ...

We desire to construct a box whose base length is three times the base width. The material utilized to build the top & bottom cost $10/ft 2 and the material utilized to build the

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