Please answer them correctly. Here are short 3 problems. Please solve all 3 problems. I would...

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Finance

Please answer them correctly. Here are short 3 problems. Pleasesolve all 3 problems. I would really appreciate your effort.Thanks.

1. You invest $260 in a mutual fund today that pays 6.30 percentinterest annually. How long will it take to double your money?(If you solve this problem with algebra roundintermediate calculations to 6 decimal places, in all cases roundyour final answer to 0 decimal place, e.g. 545)

Number of Years ______?

2. You decide to take advantage of thecurrent online dating craze and start your own Web site. You knowthat you have 250 people who will sign up immediately and, througha careful marketing research and analysis, determine thatmembership can grow by 24 percent in the first two years, 19percent in year 3, and 18 percent in Year 4. How many members doyou expect to have at the end of four years? (Roundintermediate calculations to 6 decimal places, in all cases roundyour final answer to the nearest whole number.)

Excel Template
(Note: This template includes the problem statement as itappears in your textbook. The problem assigned to you here may havedifferent values. When using this template, copy the problemstatement from this screen for easy reference to the values you’vebeen given here, and be sure to update any values that may havebeen pre-entered in the template based on the textbook version ofthe problem.)

Members at the end of four years ______?

3. You have just inherited $600,000. You plan to save this moneyand continue to live off the money that you are earning in yourcurrent job. If you can invest the money in a bond that pays 5.67percent interest annually, how long will it be before yourinheritance is worth $1 million? (If you solve thisproblem with algebra round intermediate calculations to 5 decimalplaces, in all cases round your final answer to 2 decimal places,e.g. 8.72.)

Inheritance will be worth $1 million in ____ years?

Answer & Explanation Solved by verified expert
4.3 Ratings (752 Votes)
1 Present value 260 i630 Future value 2602 520 Future value present value1in 520 260 1063n 520260 1063n 2 1063n To solve we will use    See Answer
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Please answer them correctly. Here are short 3 problems. Pleasesolve all 3 problems. I would really appreciate your effort.Thanks.1. You invest $260 in a mutual fund today that pays 6.30 percentinterest annually. How long will it take to double your money?(If you solve this problem with algebra roundintermediate calculations to 6 decimal places, in all cases roundyour final answer to 0 decimal place, e.g. 545)Number of Years ______?2. You decide to take advantage of thecurrent online dating craze and start your own Web site. You knowthat you have 250 people who will sign up immediately and, througha careful marketing research and analysis, determine thatmembership can grow by 24 percent in the first two years, 19percent in year 3, and 18 percent in Year 4. How many members doyou expect to have at the end of four years? (Roundintermediate calculations to 6 decimal places, in all cases roundyour final answer to the nearest whole number.)Excel Template(Note: This template includes the problem statement as itappears in your textbook. The problem assigned to you here may havedifferent values. When using this template, copy the problemstatement from this screen for easy reference to the values you’vebeen given here, and be sure to update any values that may havebeen pre-entered in the template based on the textbook version ofthe problem.)Members at the end of four years ______?3. You have just inherited $600,000. You plan to save this moneyand continue to live off the money that you are earning in yourcurrent job. If you can invest the money in a bond that pays 5.67percent interest annually, how long will it be before yourinheritance is worth $1 million? (If you solve thisproblem with algebra round intermediate calculations to 5 decimalplaces, in all cases round your final answer to 2 decimal places,e.g. 8.72.)Inheritance will be worth $1 million in ____ years?

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