(Answered) Using tvm on the financial calculatornbspandnbspthe rule of

Economics

Using TVM on the financial calculator and the Rule of 72s, how long will it take a $10,000 investment to double if the interest rate is 6.0%? Assume annual TVM compounding.

Using the calculator: 11.9 Years (is this correct?)

Using Rule of 72s: Divide interest rate into 72 72/6=

What if the TVM compounding is on a monthly basis? Would your answer be the same? Explain by showing calculations below

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M92405692
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Economics

What is the best point estimate for the populations

What is the best point estimate for the population's variance if the sample variance is 41.5? Round your answer to one decimal place, if necessary.

A firm has hired you as a consultantnbspthis firm is not

A firm has hired you as a consultant. This firm is not perfectly competitive--it has some control over prices. This firm is currently selling 1000 units, generating $10,000 in revenues and $12000 in total costs. The mar ...

Identify a recent mergeracquisition and use it to and

Identify a recent merger/acquisition and use it to and explain: was the merger/acquisition predominately about gaining economies of scale or economies scope?

A how can use the criteria for evaluating alternative

a) How can use the criteria for evaluating alternative methods of government finance to assess the most important revenue proposals of the 2018/19 budget. b) In the case tax is most important revenue proposals of the 201 ...

Find the minimum sample size necessary to be 99 confident

Find the minimum sample size necessary to be 99% confident that the population mean is within 3 units of the sample mean given that the population standard deviation is 29. (a) What is the critical value that corresponds ...

A manufacturing company wishes to compare two production

A manufacturing company wishes to compare two production facilities based on Defective units out of total unit production. The company obtains random samples from both facilities. Facility A produced a total of 983 units ...

The local police department must write an average of 5

The local police department must write an average of 5 traffic tickets each day to keep department revenues at budgeted levels. Suppose the number of tickets written per day follows a Poisson distribution with a mean of ...

The mean distance commuters drove to work each day was

The mean distance commuters drove to work each day was estimated to be 40.8 miles from a sample of 45 commuters. The sample standard deviation was 5.8 miles. Assume that the distance commuters drive to work each day are ...

Ads in the boring business magazine are read by 300 lawyers

Ads in the boring business magazine are read by 300 lawyers and 1000 MBAs. Ads in the consumer publication are read by 250 lawyers and 300 MBAs. If Harry has $3000 to spend on advertising... If the price of ads in the bo ...

In a sample of phd students 80 have paid assistant-ships a

In a sample of PH.D students 80% have paid assistant-ships. A student is chosen at random from this sample. What is the probability that the student has a paid assistant-ships?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert