Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you have an investment account that started with $

You have an investment account that started with $4,000 10years ago and which now has...

90.2K

Verified Solution

Question

Accounting

You have an investment account that started with $4,000 10years ago and which now has grown to $7,000

a. What annual rate of return have you earned (you have made no additional contributions to the account)?

b. If the investment account earns 16 % per year from now on, what will the account's value be 10 years from now?

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

Advance Math
1.2K views

Explain the difference between IPv4 and IPv6 addressing schemes and discuss that how many different IPv4...

Chemistry
1.2K views

3. The dissolution of NaCl has a standard enthalpy of +3.87 kJ mol-1 at 25.0ºC and...

Civil Engineering
1.2K views

A vertical summit curve has its highest point of the curve at a distance 48 m...

Biology
1.2K views

How would an ecosystem be affected if a new tertiary consumer were brought into the ecosystem?...

General Management
1.2K views

Section 2: SHORT ANSWER (IN YOUR WORDS) List 5 characteristics of complexity and provide examples for each:

Basic Math
1.2K views

3 What is the final balance in an account that had an initial invest of...

Basic Math
1.2K views

A system proposed by the U S Navy for underwater submarine communication called ELF Extremely...

Basic Math
1.2K views

Use the formula for simple interest, I=Pxrxt, to find the missing quantity.P=$5,500; r = 7%;...

Accounting
1.2K views

P 51 Salem Corp. was incorporated on July 2, 2018 to operate a merchandizing business....

Accounting
1.2K views

I am supposed to end up with $408,708, but i keep ending up with $15,000...

Accounting
1.2K views

Calculation of relevant liquidity and asset management ratios; Detailed workings were provided. Company name...

Finance
1.2K views

QUESTION 10 Which one of the following assertions about statements 1 and 2 is true?...