How many years will it take now to double your balance

Assignment Help Business Economics
Reference no: EM132503753

You deposit $5,000 in a savings account that earns 8% simple interest per year. What is the minimum number of years you must wait to double your balance? Suppose instead that you deposit the $5,000 in another savings account that earns 7% interest compounded yearly. How many years will it take now to double your balance?

Reference no: EM132503753

Questions Cloud

How many people are unemployed : -The current unemployment rate is 7% and the number of people in the labour force is 250,000. Use this information to find the following.
Measure of each country respective standard of living : Which set of figures would give you a better measure of each country's respective standard of living? Justify your answer.
Irrespective of the structure of the labour market : Irrespective of the structure of the labour market, economic theory predicts that the imposition of a minimum wage above the otherwise prevailing wage
Why would the government subsidize higher education : Does your answer depend on whether private returns to education are due to signalling or not? Does it depend on the magnitude of social returns to education?
How many years will it take now to double your balance : Suppose instead that you deposit the $5,000 in another savings account that earns 7% interest compounded yearly. How many years will it take now to double your
What is the minimum number of years : What is the minimum number of years you must wait to double your balance? Suppose instead that you deposit the $5,000 in another savings account
Economy of wonderland : Suppose that the economy of Wonderland is described by the following equations: Planned consumption: C = 200 + 0.8Yd Disposable income
Governments and ethical choices : Governments make choices on how they will shape or refuse to shape markets. Every decision that governments make on the shape of the economy
Define marginal utility : a) Given the following demand function for beef (kg), P = 100 -2Q

Reviews

Write a Review

Business Economics Questions & Answers

  Explain how many cases of toothpaste should be produced

Explain how many cases of toothpaste should be produced in order to maximize profits. Illustrate what happens if its decided to raise prices unilaterally in this toothpaste market.

  Estimate how companies need to bridge the gap

Estimate how companies need to bridge the gap between the current state and the e-business state.

  Employers bear cost and earn return on specific training

Employees bear the cost and earn the returns on investments in general training and employers bear the cost and earn the return on specific training. Is this statement true, false, or uncertain? Give an economic justification for your answer.

  Qsuppose you are attempting to buy a used bicycle and you

q.suppose you are attempting to buy a used bicycle and you are bargaining with the owner over the sale price. the bike

  Contractor estimates maintenance costs

A contractor estimates maintenance costs for a new backhoe to be $275 for the first month with a monthly increase of 0.5%.

  Use your own smartphone for work purposes

Suppose your employer allows you to use your own smartphone for work purposes but only if the employer can install software to erase the phone's information if it is lost, stolen, or if you leave the company. Describe the possible pros and cons you w..

  Explain the fundamental notion of a variable

Explain the fundamental notion of a variable (data item) x being informative about a variable y.

  Conducting a hypothesis test about a single mean

When conducting a hypothesis test about a single mean, other relevant factors held constant, changing the level of significance from .05 to .01 will reduce the

  Develop a strong taste for british columbia wine

Suppose the french suddenly develop a strong taste for British Columbia wine. Answer the following questions in words and using a diagram.

  Suggest a loyalty program that you would launch

Consider your own small business or one of the businesses that you or your LTeam has discussed and suggest a Loyalty Program that you would launch?

  How does the concepts of microeconomics can be applied

How does the concepts of microeconomics can be applied to real-world situations. How will it increase your chances of a career or life success.

  Consumer behavior model-environmental factors

Refer to the week's readings and the model of consumer behavior and identify two of the most important environmental.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd