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How many months must shorty wait

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Problem 1: You have $1,000 today and want to double your money in 8 yrs. What interest rate must you earn?

Problem 2: You just purchased a parcel of land for $10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years?

Problem 3: Shorty Jones wants to buy a one-way ticket to mule-snort, Pennsylvania. The ticket costs $142, but Mr.Jones has only $80. If Shorty puts the money in an account that pays 9% interest compounded monthly, how many months must Shorty wait until he has $142 (round to nearest month)

Reference no: EM132910566

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