Homework #2B (Find Number of Periods or Find Growth
Rate)
Question 1
Determining the Number of Compounding Periods
http://www.calculator.net/finance-calculator.html?
ctype=investlength&ctargetamountv=7916&cyearsv=10&cstartingprinciplev=545&cinterestrate
v=13.4&ccontributeamountv=0&ciadditionat1=end&printit=0&x=69&y=9
ln ( FV )−ln ( PV )
N=
ln ( 1+i )
FV = Future Value
PV = Present Value
i = Interest
N = # of Periods
How many years will the following take? $545 to grow to $7,916 if invested at 13.40 percent,
compounded annually. Round the answer to two decimal places.
Answer:
21.28
Question 2
Determining the Number of Compounding Periods
http://www.calculator.net/finance-calculator.html?
ctype=investlength&ctargetamountv=7916&cyearsv=10&cstartingprinciplev=545&cinterestrate
v=13.4&ccontributeamountv=0&ciadditionat1=end&printit=0&x=69&y=9
ln ( FV )−ln ( PV )
N=
ln ( 1+i )
FV = Future Value
PV = Present Value
i = Interest
N = # of Periods
Upon graduating from college, you make an annual salary of $66,853. You set a goal to double it
in the future. If your salary increases at an average annual rate of 6.63 percent, how long will it
take to reach your goal? Round the answer to two decimal places.
This study source was downloaded by 100000872281541 from CourseHero.com on 09-24-2023 07:04:57 GMT -05:00
https://www.coursehero.com/file/16441744/FINC-330-Homework-2B-Find-Number-of-Periods-or-Find-Growth-Rate/
Rate)
Question 1
Determining the Number of Compounding Periods
http://www.calculator.net/finance-calculator.html?
ctype=investlength&ctargetamountv=7916&cyearsv=10&cstartingprinciplev=545&cinterestrate
v=13.4&ccontributeamountv=0&ciadditionat1=end&printit=0&x=69&y=9
ln ( FV )−ln ( PV )
N=
ln ( 1+i )
FV = Future Value
PV = Present Value
i = Interest
N = # of Periods
How many years will the following take? $545 to grow to $7,916 if invested at 13.40 percent,
compounded annually. Round the answer to two decimal places.
Answer:
21.28
Question 2
Determining the Number of Compounding Periods
http://www.calculator.net/finance-calculator.html?
ctype=investlength&ctargetamountv=7916&cyearsv=10&cstartingprinciplev=545&cinterestrate
v=13.4&ccontributeamountv=0&ciadditionat1=end&printit=0&x=69&y=9
ln ( FV )−ln ( PV )
N=
ln ( 1+i )
FV = Future Value
PV = Present Value
i = Interest
N = # of Periods
Upon graduating from college, you make an annual salary of $66,853. You set a goal to double it
in the future. If your salary increases at an average annual rate of 6.63 percent, how long will it
take to reach your goal? Round the answer to two decimal places.
This study source was downloaded by 100000872281541 from CourseHero.com on 09-24-2023 07:04:57 GMT -05:00
https://www.coursehero.com/file/16441744/FINC-330-Homework-2B-Find-Number-of-Periods-or-Find-Growth-Rate/
