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3 years ago

"how long will it take to double your savings if you earn 7.2 percent interest, compounded annually?"

1 answer:

4 0

Formula of Comound Interest will help you. Here is the formula : So : savings you placed Sf : savings you get after years r : rate n : years Sf = So x (1+r)^n Here we try to get "n" so that Sf = 2So. "n" is a math power, if you want to get it, you should use Logarithm and transform the equation : Sf - So = (1+r)^n Then, you isolate "n" and by doing that, every other equation's terms will be expressed in Logarythm : n = (log sf - log so) / (log 1 + r) Example : you have 10$, you want 20$ with 7.2% interest (Any other amount will match) : n = (log 20 - log 10) / (log 1.072) n = 0.301029 / 0.030195 n = 9.9696 You will need 9.9696 years. So (0.9696*365)/1 = 9 years, 11 months and 19 days.

You might be interested in

A decrease in the price of domestically produced industrial robots will be reflected in a. the GDP deflator but not in the consu

JulsSmile [24]

Answer:

A decrease in the price of domestically produced industrial robots will be reflected in the GDP deflator but not in the consumer price index.

Explanation:

Although from the outset, CPI and GDP Deflator might measure something very similar, there are a couple of key contrasts. The first is that GDP Deflator incorporates just local merchandise and nothing that is imported. This is diverse because the CPI includes anything purchased by buyers, including remote merchandise.

The subsequent contrast is that the GDP Deflator is a proportion of the costs all things considered and benefits while the CPI is a proportion of just merchandise purchased by shoppers.

6 0

3 years ago

Select all of the true statements regarding Gary Hamel's thoughts on management:

SIZIF [17.4K]

Answer: • management innovation is essential to future organizational success

• we must look at management as a process, and then make improvements and innovation ongoing and systematic

• much of management theory is dated and doesn't fit the current realities of organizational life

Explanation:

The true statements regarding Gary Hamel's thoughts on management are:

1. management innovation is essential to future organizational success

2. we must look at management as a process, and then make improvements and innovation ongoing and systematic

3. much of management theory is dated and doesn't fit the current realities of organizational life

According to Gary Hamel, yesterday's best practices of organizations can not be creative or adaptable for the business challenges tomorrow.

7 0

3 years ago

Corporate social investment definition

IgorLugansk [536]

Definition:

Contributions that bring benefits over and above those directly associated with the core business activities and events. These contributions can include monetary, employee time, employee resources, and gifts of any kind.

3 0

3 years ago

Suppose you own 500,000 shares of common stock in a firm with 40 million total shares outstanding. The firm announces a plan to

Roman55 [17]

Answer:

62,500 shares

Explanation:

common stock = 500,000 shares

Total shares outstanding = 40 million

Percentage of existing holding:

= (Shares of common stock ÷ Total shares outstanding) × 100

= (500,000 ÷ 40,000,000) × 100

= 1.25%

New shares that can be purchased:

= Number of new shares sold × Percentage of existing holding

= 5 million × 1.25%

= 62,500 shares

6 0

3 years ago

Jasper Corp. has a selling price of $44, and variable costs of $25 per unit. When 14,600 units are sold, profits equaled $133,00

AURORKA [14]

Answer:

Break-even point in units= 7,600

Explanation:

Giving the following information:

Selling price= $44

Unitary variable cost= $25

When 14,600 units are sold, profits equaled $133,000.

First, we need to calculate the total fixed costs:

Fixed costs= Total contribution margin - net income

Fixed costs= 14,600*(44 - 25) - 133,000

Fixed costs= $144,400

To calculate the break-even point in units, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 144,400 / (44 - 25)

Break-even point in units= 7,600

5 0

3 years ago