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Gnesinka [82]
2 years ago
14

A present value of $2600 is invested in an account with an annual interest rate of 4.1% . Determine the minimum amount of time r

equired for the present value to triple, assuming the interest is compounded monthly. The minimum amount of time required is:
Business
1 answer:
Olin [163]2 years ago
5 0

Answer:

The minimum amount of time required is:

26.82 years.

Explanation:

Present value = $2,600

Future value = $7,800 ($2,600 * 3)

Annual interest rate = 4.1%

Monthly interest rate = 4.1%/12 = 0.342%

$2,600 will need to be invested for 321.781 (26.82 years) periods to reach the future value of $7,800.00.

FV (Future Value) $7,800.00

PV (Present Value) $2,600.00

N (Number of Periods) 321.781

I/Y (Interest Rate) 0.342%

PMT (Periodic Payment) $0.00

Starting Investment $2,600.00

Total Principal $2,600.00

Total Interest $5,200.00

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Conclusions and recommendations are the most widely read sections of any report. Conclusions summarize a nd explain your finding
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B. Your recommendations should never be in the form of a command.

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A good conclusion touches the theme or main topic, summarizes the main points, and connects with the introduction, but with a sense of closure.  Conclusions should be sound and logical.  Irrelevant conclusions are annoying to the senses.  Without a conclusion, the report will sound like one illogical move without clear direction and purpose.

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A bank will often hold government securities as an asset. If a bank were to sell S500,000 in government securities to an individ
sleet_krkn [62]

Answer:a.

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A bank will often hold government securities as an asset. If a bank were to sell S500,000 in government securities to an individual who paid for the bond in cash and the bank placed this cash in its vault, by how much would the money supply change as a result  -  It would increase by $500,000 multiplied by the reciprocal of the required reserve ratio.

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