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Suppose that you’ve got $100 in a savings account earning 5% interest. How many years will it take to double?
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- If you put your $100 into a saving account which earns 5% interest, how long does it take for your money to double?When investing or saving money for retirement, which type of interest would benefit the most from? Fixed Variable Simple Compoundof the present value of The present value of a fixed-payment loan is calculated as the all cash flow payments. Select one: a. log b. sum c. multiple d. difference
- What is the compounding process?MULTIPLE-CHOICE QUESTION How does compounding interest help you grow wealth over time? because your contributions to investment accounts grow steadily O because interest rates always increase over time O because interest payments are continually added to the principalויוי in c) Linda needs $10,000 in 4 years to use as a down payment on a house. She has $6830 to invest today. What amount of interest does she need to earn to make this happen?
- Solve it correctly please. I ll rate accordingly. TypedB only please only in typed answerPlease show all work and how this was done in Excel If you deposited $5,000 in your saving account three years ago and you will collect them now as $5,955.08: What was your account interest for the past three years? Use excel sheet to show your calculations, take a snap shot and paste it in the MS Word answer document. Using the same interest rate that you calculated if you left your money in the bank how long would it take for the initial deposited amount to double? Use the tables in the back of the book to find the discount factor of an institution that provides 11% compound interest after 6 years of investment. Which institution would you prefer, this one or the first one? Why?
- If your receive $500 in simple interest on a loan that you made for $10,000 for 5 years, what was the interest rate you charged? Please show how you got to the answerMia is 27 years old and he saw a bank offering a time deposit plan with 6% interest. Shee does not know how often the bank calculates interest but he is interested. If she plans to take the offer and wants a sum of $ 20,000 in 10 years, how much should she start his deposit? a. $11,000 b. $10,000 c. $12,000Fred takes out a loan for $1300 at an interest rate of 5% for a period of 5 years. Calculate the total amount that Fred must pay back at the end of the loan period. Round your answer to two decimal places