Homework Help: finance

Posted by Qoo on Saturday, April 28, 2012 at 2:00pm.

You have an investment opportunity which yields 9% per year. About how many years will it take your initial investment of $10,000 to grow to a total of of $40,000? Please give your answer as a whole number

finance - Tiffany, Saturday, April 28, 2012 at 2:29pm
33
finance - Henry, Monday, April 30, 2012 at 3:20pm
Pt = 10000 + 10000*0.09*t = 40000.
900t = 40000-10000 = 30000.
t = 30000 / 900 = 33.33 Years or 33yrs.

Answer this Question

Related Questions

Finance - Innovation Company is thinking about marketing a new software product...
corporate finance - A company is considering a $250 million investment in land ...
college/accounting - You have been offered the opportunity to purchase a ...
Finance - If an investment of $5,000 today earns 5% in each of the next five ...
Finance - Investment X offers to pay you $5,500 per year for nine years, whereas...
Finance - Investment X offers to pay you $6,000 per year for nine years, whereas...
business math - You invest $10,000 in Rapid Growth Funds, which appreciate by 3...
finance - You have been given the following information on a project: It has a 3...
Business finance - Question No 1: Sumi Inc. has policy of paying a Rs. 9 per ...
Finance - An investment offers an expected dollar return of $800 each year for ...

For Further Reading

First Name:
School Subject:
Answer: