Money Tripling Time Quiz
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Questions and Answers

Approximately how many years will it take for money to triple at a 6.4% interest rate compounded monthly?

  • 1.48 years
  • 17.21 years (correct)
  • 206.53 years
  • 2.57 years
  • At what interest rate will money triple in 17.21 years when compounded monthly?

  • 17.71%
  • 2.57%
  • 1.48%
  • 6.4% (correct)
  • If money triples in 17.21 years, what is the compound interest rate per year?

  • 1.48%
  • 6.4% (correct)
  • 2.57%
  • 17.71%
  • Which one of these is the monthly discount rate expressed as a nominal annual rate for a future value of $182,500 to be reduced to $178,663.58 over a period of 4.25 years?

    <p>8.04%</p> Signup and view all the answers

    What is the future value of an investment if $10,000 is invested at an annual interest rate of 5% compounded quarterly for 3 years?

    <p>$11,576.25</p> Signup and view all the answers

    What is the present value of an investment that will be worth $50,000 in 10 years, assuming an annual interest rate of 6% compounded annually?

    <p>$32,000.00</p> Signup and view all the answers

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