You were entitled to receive $5,000 at the end of six months for the rest of your life. If the interest rate is 10% compounded monthly, what is the present value of perpetuity?
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- You were entitled to receive $5,000 at the end of six months for the rest of your life. If the interest rate is 10% compounded monthly, what is the present value of perpetuity?How many years will it take an investment to triple if the interest rate is 8%compounded?How long will an account invested at 11.5% compounded yearly be tripled?
- In how many years will a sum of money triple itself at 12% compounded annually?Jesse wanted to double his money at 3% annual interest compounded monthly. How long will it take to double your money?How many years will it take for an investment to be twice its value if it earns 8% compounded annually?
- You want to save the down payment required to purchase a vacation home at the end of five years. If the required down payment is $25,000 and you can earn 5% a year on your savings account, how much do you need to set aside at the end of each year for the next four years?how long does it take for an investment to double at 1.4% compounded continuouslyIf you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay?