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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?
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?
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?
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?
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?
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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?
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?
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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?
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?
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