It will take 8.04 years for the initial investment of $15000 to become $30,000
What is the future value of an investment?
The future value of $15,000 invested now earning a rate of return of 9% per year is $30,000, it the future equivalent of an amount invested now when the invested amount has earned interest over a specific period of time.
The below future value formula of single cash flow can be used to determine the number of years it takes for the initial investment to double.
FV=PV*(1+r)^N
FV=future value=$30,000
PV=initial investment=$15,000
r=rate of return=9%
N=number of years it takes for the initial investment to double=unknown(assume it is X)
$30,000=$15000*(1+9%)^N
$30000/$15000=(1+9%)^N
2=1.09^N
take log of both sides
ln(2)=N*ln(1.09)
N=ln(2)/ln(1.09)
N=8.04 years
Find out more about future value on:brainly.com/question/24703884
#SPJ1
Answer:
See below
Explanation:
Given the above information, the average debtor days is computed as seen below.
= Total receivables / Credit sales × 365
Total receivables = $246,000
Credit sales $2,430,000
Then,
Average debtor days
= $246,000 / $2,430,000 × 365
= 36.95 days
Hence, it would take 36.95 days on the average for credit customers to pay off their debts during this past year
Answer:
The correct answer is option b.
Explanation:
The terms of trade is the ratio at which two countries exchange their goods. It is the ratio of exports and imports of a country. Terms of trade reflect the health of the economy.
It measures the number of goods a country can import in exchange for the goods it is exporting.
An increase in the price of exported goods will increase the terms of trade for a country. While an increase in the price of imported goods will cause it to decline.
Answer:Danielle relies on summer earnings to fund her next year at the university. When she tried to get her old high school summer job back at local Cool Rags Clothier, she learned that the manager no longer hires college students during the summer months. Which of the following strategies do you recommend that Danielle pursue?Answer C
Answer: Proven oil reserves
Explanation:
Proven oil reserves are those that humans can extract oil from given our current technological and economic situations.
Under Proven oil reserves there are those that are Proven developed and those that are Proven Underdeveloped. Proven Developed ones can be extracted from as they come from already existing wells. Proven Underdeveloped however would need further investment to get them ready.
