Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer both :) 21. a local bank is...

please answer both :) 21. A local bank is...

80.2K

Verified Solution

Question

Accounting

please answer both :)
image
image
21. A local bank is offering 6%, compounded semi-annually, on savings accounts. If you deposit $4,000 today, how much will you have in 2.5 yrs. 20. If you presently have 40,000 dollars invested at a rate of 21 percent, compounded annually, how many years, to the closest year, will it take for your investment to triple? It must triple. a. 6 years b. 7 years c. 8 years d. 5 years e. 4 years

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

(2pts) Bond X is a premium $1000 par value bond making annual payments. The bond has...

Finance
Q

TV sets: According to the Nielsen Company, the mean number of TV sets in a U.S....

Statistics
Q

What factors account for the tremendous growth in cotton cultivation from 1790 to 1860? How did...

Psychology
Q

1. How can a neutral item be attracted to a charged object? Devise a test that...

Physics
Q

The parameters of a 3-phase, 4-pole, 50 Hz, Y-connected, wound-rotor induction motor are listed below. These...

Electrical Engineering
Q

1 A portfolio is composed of two stocks A and B Stock A has a...

Basic Math
Q

A veterinary researcher is studying a particular type of dog called the Australian Cattle Dog....

Calculus
Q

Hyland Ltd commenced operation on 31 March 2020. The company balances its accounts at month-end...

Accounting
Q

The following list of accounts was drawn from the accounts of Little Grocery Supplier (LGS)...

Accounting
Q

When it is important to have efficient operations, it is usually advantageous to decision making...

Accounting
Q

Packard Company acquires the assets and liabilities of Sutton Company, with an acquisition cost that...

Accounting
Q

Some of the most colorful language of finance comes from defensive tactics used in mergers...

Finance