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3 years ago

At 6.5 percent interest how long does it take to double your money to quadruple it

Business

2 answers:

Oksi-84 [34.3K]3 years ago

4 0

Your money will double in approximately 11 years and quadruple in approximately 22.

Use the Rule of 72 for doubling (72/interest rate= number of years to double) and the Rule of 144 to quadruple (144/interest rate= number of years to quadruple).

maw [93]3 years ago

3 0

Answer:

The rule of 72 is a simple way to determine approximately when will someone's investment double.

The formula for applying the rule of 72:

number of years = 72 / interest rate = 72 / 6.5 = 11.08 ≈ 11 years

if we want to know approximately when our investment will quadruple, we just multiply 11.08 x 2 = 22.16 ≈ 22 years

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Our company reported the following financial numbers for one of its divisions for the year; average total assets of $4,100,000;

mestny [16]

Answer: $193,000

Explanation:

Given that,

Average total assets = $4,100,000

Sales = $4,525,000

Cost of goods sold = $2,550,000

Operating expenses = $1,372,000

Target income = 10% of average invested assets

Net operating income = Sales - Cost of goods sold - Operating expenses

= $4,525,000 - $2,550,000 - $1,372,000

= $603,000

Minimum required return on assets = 10%

Residual income:

= Net operating income - (Minimum required return on assets × Average total assets)

= $603,000 - (10% × $4,100,000)

= $193,000

7 0

4 years ago

Which of these statements about reverse logistics is BEST? A. Reverse logistics systems are usually more cost-efficient than for

lord [1]

Answer:

A. Reverse logistics systems are usually less cost- efficient than forward-based systems.

Explanation:

Reverse logistics is linked to the reuse of goods and services for all activities, this includes the management and the sale of surplus. Reverse logistics is the distribution of purchased products back into the business in the reverse direction of business process flow.

Reverse logistics systems are usually less cost- efficient than forward-based systems. Reverse logisticsprovides companies with revenues and strategic benefits.

7 0

3 years ago

A $200,000 loan amortized over 12 years at an interest rate of 10% per year requires payments of $21,215.85 to completely remove

lesya [120]

Answer:

loan balance after 12 years = $185409.8

Explanation:

Loan principal = $200000

interest = 10% of principal

amount paid yearly = $21215.85

For 1st year

principal for the first year = $200000

required interest to be paid = 10% of 200000 = $20000

amount paid = $21215.85

Loan Balance after first year = (principal for first year) - (amount paid - 10% of principal ) = $198,784.15

For 2nd year

principal for the 2nd year = Loan balance after first year = $198,784.15

loan balance after 2nd year = 198784.15 - ( 21215.85 - 10% of 198784.15)

= $197568.30

same applies for the different years until the 12th year

using this formula :

Loan Balance after Nth year = [ Loan balance after (n-1) year - ( amount paid - 10% of loan balance after (n-1) year ) ]

6 0

3 years ago

Given the following information about each economy, either calculate the missing variable or determine that it cannot be calcula

Musya8 [376]

Explanation:

a. Total income formula is:

Y= C+I+G+NX

Y=20.1+3.5+5.2+(-1)

Y= $27.8 billion

b. In closed economies, income is calculated with this formula:

I=Y-C-G

I= 1.5-1-0.8

I= -$0.3 trillion

In open economies, income cannot be calculated because net exports (NX) data is missing.

c. NX is

NX= 576-445-115-81

NX= -$65 billion

NX is exports minus imports, in this case imports are more than exports. To calculate exports you need imports data.

8 0

3 years ago

At Onyx incorporated, direct materials are added at the beginning of the process and conversions costs are uniformly applied. Ot

PIT_PIT [208]

Answer:

A $660,030

Explanation:

Total cost of units completed and transferred out = Units Completed and Transferred x Cost per Equivalent Unit

Therefore,

Total cost of units completed and transferred out = 117,000

5 0

3 years ago