Answer:
It would take 2 years
Explanation:
7x2=14 witch is the 7.2% interest rate so it would take two years 2 double your money
Answer:
what rate is he earning interest
Interest rate is 8%
Explanation:
I = C·i·t,
C Initial Investement
i Anul interest rate
t time
16000=20000*i*10
16000=200000*I
I=16000/200000
I=0,08
I=8%
Answer:
ARR=15.82%
Explanation:
Joe's Hardware
Cash flow 1,540,000
Average Cash flow =305,000+265,000+(6×230,000)/8
Average Cash flow =305,000+265,000+1,380,000/8
=1,950,000/8
=243,750
ARR= Average Annual Operating Income/ Initial investment
=243,750/1,540,000
ARR=15.82%