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At an annual interest rate of 7%, how many years does it take to quadruple your money? SolutionsPV = Present Value = $1 FV = Future Value = $4 r = annual interest rate = 7% Let n = number of years FV = PV * (1+r)^n $4 = $1 * (1+7%)^n (1.07)^n = 4 n = log(4) / log(1.07) n = 0.602059991 / 0.0293837777 n = 20.4895367 Therefore, it will take 20.49 years to quadraple the money Related Solutions- How many years will it take for $100,000 to grow to $500,000 if it is...- How many years will it take for $100,000 to grow to $500,000 if it is invested at an annual interest rate of 9.15%? Round to the nearest 0.01. - You are offered a line of credit with a quoted interest rate of 20% with daily compounding. What is your effective annual interest rate? Round to the nearest 0.01%. Lisa decided to up a candy shop that sells a dairy chocolate that cost P135 per packed. The cost of making a chocolate is P90 and the operating expens … es is P4,500 a. Write a profit function P(x) where x is the number of packs of dairy chocolate sold b. How much is the gain if Lisa sold 350 packs of dairy chocolates? c. How many packs of dairy chocolate must be sold to break even? d. How many packs of dairy chocolate must be sold if Lisa wanted to earn a profit of P6,750? Knowledge Booster Learn more about Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below. Recommended textbooks for you  Essentials Of Investments ISBN:9781260013924 Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J. Publisher:Mcgraw-hill Education, FUNDAMENTALS OF CORPORATE FINANCE ISBN:9781260013962 Author:BREALEY Publisher:RENT MCG Financial Management: Theory & Practice ISBN:9781337909730 Author:Brigham Publisher:Cengage Foundations Of Finance ISBN:9780134897264 Author:KEOWN, Arthur J., Martin, John D., PETTY, J. William Publisher:Pearson, Fundamentals of Financial Management (MindTap Cou... ISBN:9781337395250 Author:Eugene F. Brigham, Joel F. Houston Publisher:Cengage Learning Corporate Finance (The Mcgraw-hill/Irwin Series i... ISBN:9780077861759 Author:Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor Publisher:McGraw-Hill Education Essentials Of Investments ISBN:9781260013924 Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J. Publisher:Mcgraw-hill Education, FUNDAMENTALS OF CORPORATE FINANCE ISBN:9781260013962 Author:BREALEY Publisher:RENT MCG Financial Management: Theory & Practice ISBN:9781337909730 Author:Brigham Publisher:Cengage Foundations Of Finance ISBN:9780134897264 Author:KEOWN, Arthur J., Martin, John D., PETTY, J. William Publisher:Pearson, Fundamentals of Financial Management (MindTap Cou... ISBN:9781337395250 Author:Eugene F. Brigham, Joel F. Houston Publisher:Cengage Learning Corporate Finance (The Mcgraw-hill/Irwin Series i... ISBN:9780077861759 Author:Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor Publisher:McGraw-Hill Education How many years are required for an amount of money to quadruple if it is invested at a 4% interest rate?From there, we know that we want to quadruple our investment, so we can replace A and P to indicate that: 4 = 1(1 + . 033/2)^(2t). When we simplify this equation, we get 4 = 1.0165^(2t). Solving for t gives us 42.3545 years.
How long will it take money to quadruple if it is invested at 7% compounded daily?1 Expert Answer
Using our calculator we will find that it takes about 20.4895 days to quadruple the money invested under 7% interest rate compounded daily.
How many years will it take to quadruple your money?The Rules of 114 and 144
Rule of 114 can be used to determine how long it will take an investment to triple, and the Rule of 144 will tell you how long it will take an investment to quadruple. For example at 10%, an investment will triple in about 11 years (114 / 10) and quadruple in about 14.5 years (144 /10).
How long will it take money to triple if invested at 8% compounded annually?Answer: Approximately 13.5 years to triple.
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How many years will it take for the money to quadruple if it earns 7% compounded semi annually?
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