finance

posted by .

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 -

    Pt = 10000 + 10000*0.09*t = 40000.
    900t = 40000-10000 = 30000.
    t = 30000 / 900 = 33.33 Years or 33yrs.

  • finance -

    Use financial calculator to solve for the interest rate involved in the following future value of an annuity due problem. The future value is $57,000, the annual payment is $7,500, and the time period is six years

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. college/accounting

    You have been offered the opportunity to purchase a franchise of Sunshine Juice Stores. You will have to pay $258,635 for the initial investment in the store and its equipment, plus $30,000 per year for the lease payments and the franchise …
  2. Finance

    Innovation Company is thinking about marketing a new software product. Upfront cost to market and develop the product are $5 million. The product is expected to generate profits of $1 million per year for 10 years. The company will …
  3. Finance

    An investment generates $10,000 per year for 25 years. If you can earn 10 percent on other investments, what is the current value of this investment?
  4. Finance

    Assume a $4,000 investment and the following cash flows for two alternatives. Year Investment X Investment Y 1 $1,000 $1,300 2 800 2,800 3 700 100 4 1,900 5 2,000 a. Under the payback method, which investment should be chosen?
  5. finance

    Mrs. Kay who is 24 years old plans to retire at the age of 60. Mrs. Kay would like to be able to withdraw $120,000 per year from her retirement account for 40 years after retirement beginning a year after her retirement. She already …
  6. Finance

    Firm is contemplating the purchase of a new warehouse inventory management system which will cost 3,600,000 at the end of its 8 year life. The warehouse management system will be depreciated straight line to 300,000 over its 8 year …
  7. Algebra 1

    An investment grows according to the exponential equation y = 15,000 · 1.07x, where x is the number of years invested. Which of the following statements is true?
  8. Algebra

    An investment grows according to the exponential equation y = 15,000 · 1.07x, where x is the number of years invested. Which of the following statements is true?
  9. math

    How much money should be invested now (rounded to the nearest cent), called the initial investment, in a Treasury Bond investment that yields 4.75% per year, compounded monthly for 10 years, if you wish it to be worth $20,000 after …
  10. math

    The value of an investment A (in dollars) after t years is given by the function A(t) = A0ekt . If it takes 10 years for an investment of $1,000 to triple, how many years will it take for the investment to be $9,000?

More Similar Questions