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3 years ago

How long will it take your money to triple if you receive 10% return on your money, compounded annually?

Business

1 answer:

vovangra [49]3 years ago

8 0

Answer:

11.6 years

Explanation:

When we are trying to determine how long will it take an investment to double using compound interest, the simplest way is to use the rule of 72. But the problem is that it doesn't work very well with odd numbers.

So we have to use math:

FV = PV (1 + r)ⁿ

PV = X and FV = 3X

3X = X(1 + 10%)ⁿ

3 = (1 + 0.1)ⁿ

log 3 = log 1.1ⁿ

log 3 = n x log 1.1

n = log 1.1 / log 3

n = 11.6 years

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Answer:

Socratic app

Explanation:

it will help you

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2 years ago

Judy works at the headquarters of an online shoe store. She is a member of the advertising team, which is a team within the mark

Alik [6]

Answer:

a.A staff department

Explanation:

As the delegation is an assignment of the authority to carry out the specific activities. It is one of the core management concepts however the person remains accountable for the decision making and assignment of duty and the task.

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3 years ago

Mauro Products distributes a single product, a woven basket whose selling price is $13 per unit and whose variable expense is $1

Ira Lisetskai [31]

Answer:

Break-even point in unit sales = 2,300 units

Break-even point in dollar sales = $29,908.97 (Approx)

New break-even point in unit sales = 2,600 units

New break-even point in dollar sales = $33,810.14 (Approx)

Explanation:

Given:

Selling price = $13 per unit

Variable expense = $11 per unit

Fixed expense = $4,600

Computation:

Break-even point in unit sales = Fixed expense / [Selling price - Variable expense]

Break-even point in unit sales = 4,600 [13-11]

Break-even point in unit sales = 2,300 units

Contribution margin = [(13-11)] / 13 = 15.38%

Break-even point in dollar sales = Fixed expense / Contribution margin

Break-even point in dollar sales = $4,600 / 15.38%

Break-even point in dollar sales = $29,908.97 (Approx)

New break-even point in unit sales = [4,600+600][13-11]

New break-even point in unit sales = 2,600 units

New break-even point in dollar sales = Fixed expense / Contribution margin

New break-even point in dollar sales = $5,200 / 15.38%

New break-even point in dollar sales = $33,810.14 (Approx)

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3 years ago

Geno's Body Shop had sales revenues and operating costs in 2020 of $740,000 and $570,000, respectively. In 2021, Geno plans to e

Nataliya [291]

Answer:

$214,000

Explanation:

Total Revenues ($740,000 + $103,000) =$843,000

−Total Operating costs ($570,000 + $59,000)

=$629,000

= Total operating profit = $214,000

Therefore Assuming that there are no changes to the existing body shop business, operating profits would be expected to increase during 2021 by $214,000

7 0

3 years ago

Read 2 more answers

In pioneer ville, the price elasticity of demand for bus rides is 0.5. when the price of a bus ticket rises by 5 percent, ____

lianna [129]

The quantity of bus rides demanded decreases by 2.5 percent. Hope this helps. :)

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3 years ago