« previous next »

Author Question: If you put 2,000 into a savings account with an 8 interest rate, compounded annually, how many years ... (Read 278 times)

evelyn o bentley

  • Hero Member
  • *****
  • Posts: 564
on: Jun 29, 2018
If you put 2,000 into a savings account with an 8 interest rate, compounded annually, how many years will it take for your money to triple? Round to the nearest year.

Question 2

During your three-month internship at an athletic club, you put 2,000 into a savings account. If the interest rate on the account is 7.25, compounded annually, how many years will it take for your money to double? Round to the nearest year.


Missbam101

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

25

Answer to Question 2

14


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

“Mission Accomplished” proclaimed the banner on the USS Abraham Lincoln, where on May 1, 2003, Presi “Mission Accomplished” proclaimed the banner on the USS Abraham Lincoln, where on May 1, 2003, Presi
Cost Savings with an EHR System Cost Savings with an EHR System
How to calculate simple interest (Part 2) How to calculate simple interest (Part 2)
Buildings account for 15% of greenhouse gas emissions Buildings account for 15% of greenhouse gas emissions
A $50 000 bond bearing interest at 5.5% payable semi-annually is redeemable at par on August ... A $50 000 bond bearing interest at 5.5% payable semi-annually is redeemable at par on August ...
Sonja is paid $42.50 per hour as a veterinarian. She is paid 1 times the regular rate for all ... Sonja is paid $42.50 per hour as a veterinarian. She is paid 1 times the regular rate for all ...
Video: Structure of Amino Acid, Peptide Bonds & Polypeptides

For a complete list of videos, visit our video library