How many years will it take a $5000 investment to reach $7500 at an 8% interest rate?
Final answer: To reach $7,500 with an 8% interest rate, it would take approximately 9.7 years. Using a calculator, we find that time is approximately 9.7 years.
How long will it take for an investment of $5000 to grow to $7500 if it earns 10% simple interest per year?
Simple interest formula: I = nip. n = year(s),n = (I) / (iP). I = simple interest, i = 0.1 n = 7500 / (0.1 x 5000) = 5 It will take 5 years for the investment of $5,000 to increase to $7,500 at a simple interest rate of 10%.
What is the time required for an investment of 5000 dollars to grow to 6000 dollars at an interest rate of 7.5 per year compounded quarterly
Expert-Verified Answer
In this case, it takes approximately 4 years for an investment of $5000 to grow to $6600 at an interest rate of 7.5% per year, compounded quarterly.
How much will the investment be worth in 20 years if $300 is invested at a rate of 5 per year and is compounded quarter
In this case, P = $300, r = 5%, n = 4 (since interest is compounded quarterly), and t = 20. Therefore, the investment will be worth $1,016.09 after 20 years.
How many years will it take $5000 to grow to $7500 if it is invested at 8% compounded monthly?
Therefore, it takes 5.08 years for $ 5 , 000 \$5,000 $5,000 to grow to $ 7 , 500 \$7,500 $7,500 if it is invested at 8% compounded monthly.
How long will it take $5000 to reach $8000 when it grows at 7.5 percent per year?
It will take approximately 7.9 years for the account to go from $5000 to $8000. Example 5: If you deposit $8000 into an account paying 7% annual interest compounded quarterly, how long until there is $12400 in the account?
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. Therefore, it will take approximately 5.3 years for 5,000 to grow to 7,000 if it is invested at 6% compounded quarterly.
How long will it take $5000 to grow to $6500 if the investment earns interest at the rate of 6% per year compounded monthly?
It will take 4.38 years to grow $5000 to $6500 if the investment earns interest rate of 6%/year compounded monthly. t = 4.38 years.
What is the time required for an investment of $5000 to grow to $8100 at an interest rate of 7.5% per year compounded quarterly?
and we get t = 7.816 years.
How much will $3000 be worth in 20 years?
As you will see, the future value of $3,000 over 20 years can range from $4,457.84 to $570,148.91. This is the most commonly used FV formula which calculates the compound interest on the new balance at the end of the period.
What will $1 000 be worth in 20 years?
| Discount Rate | Present Value | Future Value |
|---|---|---|
| 6% | $1,000 | $3,207.14 |
| 7% | $1,000 | $3,869.68 |
| 8% | $1,000 | $4,660.96 |
| 9% | $1,000 | $5,604.41 |
How much do I need to invest to make $1 million in 30 years?
To save a million dollars in 30 years, you'll need to deposit around $850 a month. If you make $50k a year, that's roughly 20% of your pre-tax income. If you can't afford that now then you may want to dissect your expenses to see where you can cut, but if that doesn't work then saving something is better than nothing.
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 to invest per month to become a millionaire in 20 years?
This isn't easy, but finding the extra time may be easier than finding an extra $12,000 per year. Given an average 10% rate of return on the S&P 500, you need to save about $1,400 per month in order to save up $1 million over 20 years.
What annual rate of return is earned on a $5000 investment when it grows to $9000 in five years?
Answer and Explanation:
The calculated value of the annual rate of return on the given investment is 13.7%. The annual rate of return on the investment is given by: = ( Amount due in 5 years Amount invested today ) 1 Number of Years − 1.
How much will it be worth in five years if you deposit $2000 in a 5 year certificate of deposit at 5.2% with quarterly compound
Answer and Explanation: The future value of the deposit will be worth $2,589.52 in five years.
How much does $10,000 grow in 30 years?
If you invest $10,000 and make an 8% annual return, you'll have $100,627 after 30 years. By also investing $500 per month over that timeframe, your ending balance would be $780,326. Exchange-traded funds (ETFs) and mutual funds are both excellent investment options.
What is the time required for an investment of $5000 to grow to $8300 at an interest rate of 7.5% per year compounded quarterly?
5000 becomes 8300 in 27.28289636 quarters. divide that by 4 to get 6.820724091 years.
How can I double $5000 dollars?
To turn $5,000 into more money, explore various investment avenues like the stock market, real estate or a high-yield savings account for lower-risk growth. Investing in a small business or startup could also provide significant returns if the business is successful.
What ROI will double your money in 6 years?
The Bottom Line
For example, to double your money in six years, you would need a rate of return of 12%.
What is $10000 at 6 for 5 years?
Summary: An investment of $10000 today invested at 6% for five years at simple interest will be $13,000.
How long will it take for an investment of 5000 to grow to 7500 if it earns 10% simple interest per year?
Simple interest formula: I = nip. n = year(s),n = (I) / (iP). I = simple interest, i = 0.1 n = 7500 / (0.1 x 5000) = 5 It will take 5 years for the investment of $5,000 to increase to $7,500 at a simple interest rate of 10%.
What if $1000 is invested at 6 interest?
Answer: $1,000 invested today at 6% interest would be worth $1,060 one year from now.
How long will it take $1000 to double at 6 interest?
So, if the interest rate is 6%, you would divide 72 by 6 to get 12. This means that the investment will take about 12 years to double with a 6% fixed annual interest rate.
How many years will it take for $500 to grow to $1039.50 if invested at 5 percent compounded annually?
The number of years it will take for $500 to grow to $1,039.50 at 5 percent compounded annually is 15 years.
