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

Arithmetic progression, the radii of circular base of right circular cylind...

the radii of circular base of right circular cylinder and cone are in the ratio of 3:4 and their height are in the ratio of the 2:3 what is the ratio of their volume?

Example of rounding off, Example of Rounding Off: Example: Round ...

Example of Rounding Off: Example: Round off the subsequent number to two decimal places. 6.238 Solution: Step 1:             8 is the number to the right of t

Error analysis: describle and correct the error in plotting, to plot (5,-4)...

to plot (5,-4), start at (0,0) and move 5 units left and 4 units down

Scatter graphs, Scatter Graphs - A scatter graph is a graph that compr...

Scatter Graphs - A scatter graph is a graph that comprises of points which have been plotted but are not joined through line segments - The pattern of the points will defin

Find out the radius of convergence, Example: Find out the radius of conver...

Example: Find out the radius of convergence for the following power series. Solution : Therefore, in this case we have, a n = ((-3) n )/(n7 n+1 )   a n+1 = (

Evaluate the infinite limits of given limits, Evaluate following limits. ...

Evaluate following limits. Solution Therefore we will taking a look at a couple of one-sided limits in addition to the normal limit here. In all three cases notice

Matrices, find inverse of [1 2 3 2 4 5 3 5 6]

find inverse of [1 2 3 2 4 5 3 5 6]

Help me please, Cristiano Ronaldo runs 33.6 kilometres per hour. Usain Bolt...

Cristiano Ronaldo runs 33.6 kilometres per hour. Usain Bolt set world record for running 100 m at 9.58 sec. Show me how to compare these two sportsmen. Step by step.

Solve the subsequent quadratic equation, Solve the subsequent quadratic equ...

Solve the subsequent quadratic equation: Solve the subsequent quadratic equation through taking the square roots of both sides. 3x 2 = 100 - x 2 Solution: Step 1

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