How long will it take $4000 to grow to $9000 if it is invested at 7 compounded monthly?
Substituting the given values, we have: 9000 = 4000(1 + 0.06/4)^(4t). Solving for t gives us t ≈ 6.81 years. Therefore, it will take approximately 6.76 years to grow from $4,000 to $9,000 at a 7% interest rate compounded monthly, and approximately 6.81 years at a 6% interest rate compounded quarterly.
How long will it take $5000 to grow to $7000 if it is invested at 6% compounded quarterly?
Expert-Verified Answer. it will take approximately 5.3 years for 5,000 to grow to 7,000 if it is invested at 6% compounded quarterly by using formula of compound interest.
How long will it take $6000 to grow to $8600 if it is invested at 9.6% compounded continuously?
Expert-Verified Answer
If $6,000 is invested at a 9.6% annual compound rate, it will take 3.75 years for it to grow to $8,600.
How long will it take an investment of $9000 to double if the investment earns interest at the rate of 8% compounded continuously?
Thus, the investment will roughly take 9 years to double.
How long will it take $10000 to grow to $12000 if it is invested at 9% compounded monthly?
How long will it take $10,000 to grow to $12,000 if it is invested at 9% compounded monthly? To solve an equation with an unknown in the power, we need to use the “logarithm”: ln 1.2 = ln(1.0075)n ln 1.2 = n ln(1.0075) ⇒ n = ln 1.2 ln 1.0075 = 24.4 Therefore, it will take 25 months for $10,000 to grow to $12,000.
How long will it take for $5000 to accumulate to $8000 if it is invested at an interest rate of 7.5 %/ a compounded annually?
To calculate how long it will take for $5000 to grow to $8000 with an annual compound interest rate of 7.5%, we use the compound interest formula, and solve for time 't', which is approximately 6.5 years. Therefore, the correct answer is option c. 6.5 years.
How much will $5000 be worth in five years if invested at an 8% compound interest rate?
| Discount Rate | Present Value | Future Value |
|---|---|---|
| 6% | $5,000 | $6,691.13 |
| 7% | $5,000 | $7,012.76 |
| 8% | $5,000 | $7,346.64 |
| 9% | $5,000 | $7,693.12 |
How much will $1,000 invested be worth in 20 years?
| Discount Rate | Present Value | Future Value |
|---|---|---|
| 5% | $1,000 | $2,653.30 |
| 6% | $1,000 | $3,207.14 |
| 7% | $1,000 | $3,869.68 |
| 8% | $1,000 | $4,660.96 |
How much will $10,000 invested be worth in 10 years?
If you invest $10,000 today at 10% interest, how much will you have in 10 years? Summary: The future value of the investment of $10000 after 10 years at 10% will be $ 25940.
How long will it take for an investment of 5000 to grow to 7500 if it earns 10% simple interest per year?
Answer. 5 years will it take for an investment of $5000 to grow to $7500 if it earns 10% simple interest per year.
What is the 7 year rule in investing?
1 At 10%, you could double your initial investment every seven years (72 divided by 10). In a less-risky investment such as bonds, which have averaged a return of about 5% to 6% over the same period, you could expect to double your money in about 12 years (72 divided by 6).
How much will you have in 30 months if you invest $4500 in a bank certificate of deposit that pays you 3.75% compounded continuously?
$13,860.98. If you invest $4,500 in a bank certificate of deposit that pays you 3.75% compounded continuously, how much will you have in 30 months? There are 2 steps to solve this one.
Does money double every 7 years?
How the Rule of 72 Works. For example, the Rule of 72 states that $1 invested at an annual fixed interest rate of 10% would take 7.2 years ((72/10) = 7.2) to grow to $2. In reality, a 10% investment will take 7.3 years to double (1.107.3 = 2).
How to turn $5000 into $10,000?
How can you make $5,000 turn into $10,000? Turning $5,000 into $10,000 involves investing in avenues with the potential for high returns, such as stocks, ETFs or real estate. Another approach is to use the money as seed capital for a profitable small business or side hustle.
How can I double $5000 dollars?
- Get a 401(k) match. Talk about the easiest money you've ever made! ...
- Invest in an S&P 500 index fund. An index fund based on the Standard & Poor's 500 index is one of the more attractive ways to double your money. ...
- Buy a home. ...
- Trade cryptocurrency. ...
- Trade options.
How long will it take for you to get $100000.00 if you invest $5000.00 in an account giving you 9.7% interest compounded continuously?
t = ln(100,000/5,000)/0.097 ≈ 12.35 years Using the formula for continuous compounding interest, it will take approximately 12.35 years for a $5,000 investment to grow to $100,000 at an interest rate of 9.7% compounded continuously.
How much will $40,000 be worth in 20 years?
As you will see, the future value of $40,000 over 20 years can range from $59,437.90 to $7,601,985.51.
How much will $100 K be worth in 20 years?
How much will $100k be worth in 20 years? If you invest $100,000 at an annual interest rate of 6%, at the end of 20 years, your initial investment will amount to a total of $320,714, putting your interest earned over the two decades at $220,714.
How long will it take you to double your money if you invest $1000 at 8% compounded annually?
The result is the number of years, approximately, it'll take for your money to double. For example, if an investment scheme promises an 8% annual compounded rate of return, it will take approximately nine years (72 / 8 = 9) to double the invested money.
How much will $1 dollar be worth in 30 years?
| One time saving $1 (taxable account) | ||
|---|---|---|
| After # years | Nominal value | Real value |
| 30 | 7.07 | 2.91 |
| 35 | 10.04 | 3.57 |
| 40 | 14.31 | 4.39 |
Can I live off interest on a million dollars?
Once you have $1 million in assets, you can look seriously at living entirely off the returns of a portfolio. After all, the S&P 500 alone averages 10% returns per year. Setting aside taxes and down-year investment portfolio management, a $1 million index fund could provide $100,000 annually.
How much is $10000 for 5 years at 6 interest?
An investment of $10000 today invested at 6% for five years at simple interest will be $13,000.
How much do I need to invest to be a millionaire in 10 years?
If you are starting from scratch, you will need to invest about $4,757 at the end of every month for 10 years. Suppose you already have $100,000. Then you will only need $3,390 at the end of every month to become a millionaire in 10 years.
What will $10 000 be worth in 30 years?
Over the years, that money can really add up: If you kept that money in a retirement account over 30 years and earned that average 6% return, for example, your $10,000 would grow to more than $57,000. In reality, investment returns will vary year to year and even day to day.
How much will $3000 be worth in 20 years?
The table below shows the present value (PV) of $3,000 in 20 years for interest rates from 2% to 30%. As you will see, the future value of $3,000 over 20 years can range from $4,457.84 to $570,148.91.
