q: david wants to achieve rich quick. he have nothing and he desires $2 millions and is prepared to invest $ 5000 at the end of every month. what (norminal) annual interest rate (with monthly compounding) would bring about this if he wants to acheive his contained by 5 years??
answer: 63.65%
what i did was i=FV/PV ^1/60 - 1 = 0.10501371 =10.5%
fv=2 mil
pv=5000
n=5*12=60
ive search everywhere and i couldnt get it right ... the book we are use are adjectives calculater based answers... but i call for to answer this manually. thank you in credit!
Answers: You are looking for Time Value of Money, solving for the interest rate. Have to use trial and error if you are doing it manually.
Tough and excellent question!
the formula you used is wrong,the sum given is base on recurring deposit.but i don't know the exact formula,sorry
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answer: 63.65%
what i did was i=FV/PV ^1/60 - 1 = 0.10501371 =10.5%
fv=2 mil
pv=5000
n=5*12=60
ive search everywhere and i couldnt get it right ... the book we are use are adjectives calculater based answers... but i call for to answer this manually. thank you in credit!
How much would have a stock within itunes or google be?!?!?!?!?
Answers: You are looking for Time Value of Money, solving for the interest rate. Have to use trial and error if you are doing it manually.
Tough and excellent question!
List out the business near out investment?
the formula you used is wrong,the sum given is base on recurring deposit.but i don't know the exact formula,sorry
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