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

Total accumulation of the amount deposited in saving account, A bank pays o...

A bank pays on its savings an interest rate of 6% per year but compounds interest monthly (i.e., estimates the interest each month and adds it to the balance).  You plan to deposit

Activity on Node, schedulling problem with variability in task times

schedulling problem with variability in task times

Areas of a rectangle, a rectangular field with a path around it measures 1...

a rectangular field with a path around it measures 120m by 50m.if the path is 1m wide all around,(a)find the length of the outer edge of the path.(b)find the area of the path

Average cost function, Average cost function : Now let's turn our attentio...

Average cost function : Now let's turn our attention to the average cost function. If C ( x ) is the cost function for some of the  item then the average cost function is,

Correlation and regression, Correlation and Regression Correlation ...

Correlation and Regression Correlation CORRELATION is an important statistical concept which refers to association or interrelationship among variables. The reasons of

Total linear attenuation, Consider the task of identifying a 1 cm thick bre...

Consider the task of identifying a 1 cm thick breast cancer that is embedded inside a 4.2 cm thick fibroglandular breast as depicted in Fig. The cancerous tumor has a cross

Integrals involving trig functions - integration techniques, Integrals Invo...

Integrals Involving Trig Functions - Integration techniques In this part we are going to come across at quite a few integrals that are including trig functions and few metho

Mode, What is the median for this problem (55+75+85+100+100)

What is the median for this problem (55+75+85+100+100)

Greatest common factors, Lindy has 48 chocolate chip cookies and 64 vanilla...

Lindy has 48 chocolate chip cookies and 64 vanilla wafers. How many bags can lindy fill if she puts the chocolate chip cookies and the vanilla wafers in the same bags? She plans

Shoppers'' stop, How should shoppers''stop develop its demand forecasts?

How should shoppers''stop develop its demand forecasts?

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