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?
It will take approximately 7.9 years for the account to go from $5000 to $8000.
Dividing both sides by 0.075, 3 0.075 ≈ 14.65 . Therefore the given amount triples in approximately 14.65 years.
Answer. 5 years will it take for an investment of $5000 to grow to $7500 if it earns 10% simple interest per year.
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.
Final answer:
To find the time required for an investment of $4,000 to grow to $8,000 at an interest rate of 7.5% per year, compounded quarterly, we can use the compound interest formula. Plugging in the values and solving for Time gives us approximately 9.47 years.
For typical interest rates, the time it takes to double is about 72 divided by the interest rate. 727.5≈10 72 7.5 ≈ 10 , so it takes about ten years to double. If you multiply by 1.5, you get a rough idea of how long it takes to triple, so 15 years (the actual answer is 15.19 years, or 15 years, 70 days).
Thus, it will take 3.2 year.
8800 = 5000(1 + 0.075/4)4t; t = 1/4(ln(8800/5000)/ln(1 + 0.075/4) = 7.6 years, can be answer 8 years? and we get t = 7.816 years.
Expert-Verified 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.
Using the provided values ($5000 principal, $8000 final amount, 7.5% annual interest rate compounded quarterly), we can calculate that it would take approximately 5.8 years for the investment to grow to $8000. Where: A is the final amount. p is the principal investment.
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.
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.
| Particulars | Amount |
|---|---|
| Present value | 5,000 |
| Future value | 7,000 |
| Time, n | 6 |
| Rate of return | r |
Answer and Explanation:
The calculated value of the annual rate of return on the given investment is 13.7%.
Expert-Verified Answer
Using this formula, we find that it would take approximately 7.12 years for the investment to reach $9000.
In this case, the investment of $5000 will take approximately 4.08 years to grow to $6000 at an interest rate of 7.5% per year, compounded quarterly.
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.
- Invest in your 401(k) and get the matching dollars. ...
- Use a robo-advisor. ...
- Open or contribute to an IRA. ...
- Buy commission-free ETFs. ...
- Trade stocks.
| 6 Months of Earnings at Different Savings Account Rates and Balances | ||
|---|---|---|
| Balance | 0.46% (national average) | 4.50% APY |
| $5,000 | $11.51 | $111 |
| $7,500 | $17.27 | $167 |
| $10,000 | $23.02 | $223 |
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 long will it take to increase a $2200 investment to $10,000 if the interest rate is 6.5 percent?
Final answer:
It will take approximately 15.27 years to increase the $2,200 investment to $10,000 at an annual interest rate of 6.5%.
total amount = amount + previous year intrest. total amount = 10900. which amounts to = 1090. hence, total 10000 amounts to 11,990 (10,900+1090).
Answer. 5 years will it take for an investment of $5000 to grow to $7500 if it earns 10% simple interest per year.
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.
It will take approximately 7.9 years for the account to go from $5000 to $8000.
