Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. casey has $1,453 to invest and would like to buy a

Casey has $1,453 to invest and would like to buy a $3,485 jet-ski in 7...

80.2K

Verified Solution

Question

Finance

image
image
Casey has $1,453 to invest and would like to buy a $3,485 jet-ski in 7 years. If interest is compounded annually, what interest rate will she have to receive to reach her goal? Enter your response as a percentage to two decimal places c.e. 12.34 instead of 0.1234) At an inflation rate of 9 percent, the purchasing power of $1 would be cut in half in 8.04 years. How long to the nearest year would it take the purchasing power of $1 to be cut in half if the inflation rate were only 6.5 percent? Enter the magnitude of your response to 2 decimal places (eg. 123.45)

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

Medical Sciences
1.2K views

Regarding the human brain (select the MOST CORRECT statement): The primary motor cortex is located in the...

Biology
1.2K views

Identify a scalar quantity O Displacement O Velocity O Distance O Acceleration

Physics
1.2K views

4 In an electrical circuit R L C and ac voltage source 81 are all...

Physics
1.2K views

S S are two coherent sources of sound along x axis separated by 42 where...

Physics
1.2K views

What will be the acceleration due to gravity at R a point which is at...

Geometry
1.2K views

The triangle circumscribes the circle What is the perimeter of the triangle A 4 cm...

Basic Math
1.2K views

Hooke's Law for an elastic spring states that the distance a spring stretches varies directly...

Basic Math
1.2K views

In 2004, the population of a district was 26,400. With a continuous annual growth rate...

Calculus
1.2K views

If f x 2x 5x 8 find f 2 f 2 Simplify your answer

Calculus
1.2K views

Describe the domain of the function g x 1 6 x The domain of the...

Accounting
1.2K views

1) You purchase a put option on Swiss francs for a premium of $0.04, with...

Finance
1.2K views

Question 20 For most companies we would expect the market/book ratio to be greater than...