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solmaris [256]
3 years ago
5

You invest $180 in a mutual fund today that pays 6.80 percent interest annually. How long will it take to double your money? (If

you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to 0 decimal place, e.g. 545)
Business
1 answer:
madreJ [45]3 years ago
3 0

Answer:

It will take 10 years and 197 days.

Explanation:

Giving the following information:

You invest $180 in a mutual fund today that pays 6.80 percent interest annually.

To calculate the time required to double the money, we need to use the following formula:

n=[ln(FV/PV)]/ln(1+r)

n= [ln(360/180)] / ln(1.068)

n= 10.54

To be more accurate:

0.54*365= 197

It will take 10 years and 197 days.

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ollegr [7]
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6 0
4 years ago
If the borrower has a previous foreclosure, can he use FHA to purchase a new home?
snow_tiger [21]

Answer:

Yes he can use FHA

Explanation:

Because FHA Loans are the most forgiving of foreclosures. To qualify for an FHA mortgage loan, you must wait at least three years after the foreclosure. The three year clock starts ticking from the time that the foreclosure case has ended, usually from the date that you prior home was sold in the foreclosure preceeding. If the foreclosure also involved an FHA loan, the three year waiting periods starts from the date that FHA paid the prior lender on its claim

6 0
3 years ago
On January 1, 2004, Kay Inc. issued its 10% bonds in the face amount of $400,000, which mature on January 1, 2014. The bonds wer
DaniilM [7]

Answer:

Unamortized discount is $43,700

Explanation:

Unamortized bond discount=original bond discount-amortization to date

original bond discount is $46,000

Amortization =interest  payable-interest expense

interest payable=$400,000*10%*6/12

                            =$20,000

Interest expense=$354,000*10%*6/12

                             =$17,700

amortization of discount=$20,000-$17,700

                                        =$2300

unamorized bond discount=$46000-$2300

                                            =$43,700

The unamorized bond discount at the end of the first six months is $43,700

                     

3 0
3 years ago
What are the various methods of collecting data? Explain with suitable example​
Reil [10]

Answer:

Mark my answer brainliest

3 0
3 years ago
The opportunity cost of going to college is a. the total money spent on food, clothing, books, transportation, tuition, lodging,
kogti [31]

Answer:  the value of the best opportunity a student gives up to attend college

Explanation: Opportunity cost is the cost of loosing benefits that one could have received if he or she would have chosen one alternative over the other. Usually the chosen alternative is the best and the rejected one is the second best.

Therefore, if a student decides to get to college the other opportunities that he might have chosen like doing a job or business is his opportunity cost.

Hence from the above we can say that the right option is B.

6 0
3 years ago
Read 2 more answers
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