Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. 1.2 suppose you are offered an investment that wil

1.2 Suppose you are offered an investment that will allow you to double your money...

50.1K

Verified Solution

Question

Finance

1.2 Suppose you are offered an investment that will allow you to double your money in 11 years. You have R15 000 to invest. What is the implied rate of interest?

1.3 Suppose you have a 1-year old son and you want to provide R92 000 in 18 years towards his college education. You currently have R11 000 to invest. What interest rate must you earn to have the R75 000 when you need it?

1.4 Suppose you want to buy a new house. You currently have R15 000 and you figure you need to have a 10% down payment plus an additional 5% of the loan amount in closing costs. If the type of house you want costs about R150 000 and you can earn 9.2% per year, how long will it be before you have enough money for the down payment and closing costs?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

84 A metal plate of area 1x10m is illuminated by...

Biology
1.2K views

QUESTION 10 What unique characteristic of O HIV is an RNA virus and R Unlike...

Biology
1.2K views

Edit View Insert Format Tools Table

Biology
1.2K views

The rise of methicillin resistant Staphylococcus aureus MRSA can be considered to be an example...

Accounting
1.2K views

Problem 13-54 (LO. 6) Gail and Harry own the GH Partnership, which has conducted business...

Accounting
1.2K views

Wikan Flyovers offers scenic overfightes of Mount Soint Helens. Data concerning the company's operations in...

Accounting
1.2K views

P Company acquired an 80% interest in S Company on January 1, 2011, for an...

Accounting
1.2K views

AirQual Test Corporation provides on-site air quality testing services. The company provided the following cost...

Accounting
1.2K views

Comparative information taken from the Calla Company financial statements is shown below: Year 2 Year...

Finance
1.2K views

If an investor invests his/her money in bonds when interest rates are trending up, and...

Accounting
1.2K views

really need all these answers Calculator Determine the amount of sales (units) that would...

Finance
1.2K views

Compile a report analyzing Target's profitability, liquidity, and solvency. Include a discussion of the four-year...