Do the following. (Give the number of periods and the number of years, rounded t

Q: Do the following. (Give the number of periods and the number of years, rounded t

Ans: a) r=0.04 b)r=0.04/4=0.01 c)r=0.04/12=0.0033 d)r=0.04/365=0.00011 e)The shorter the compounding period, the shorter the doubling time. n = 17.7 years t = 17.7 years

ID: 3362831 • Letter: D

Question

Do the following. (Give the number of periods and the number of years, rounded to the nearest hundredth.)

(a) Find the doubling time corresponding to 4% interest compounded annually.

(b) Find the doubling time corresponding to 4% interest compounded quarterly.

(d) Find the doubling time corresponding to 4% interest compounded daily.

(e) Discuss the effect of the compounding period on doubling time.

The longer the compounding period, the shorter the doubling time.The shorter the compounding period, the shorter the doubling time. The compounding period has no effect on doubling time.

n = years t = years

Explanation / Answer

Ans:

r=0.04

b)r=0.04/4=0.01

c)r=0.04/12=0.0033

d)r=0.04/365=0.00011

e)The shorter the compounding period, the shorter the doubling time.

n = 17.7 years t = 17.7 years

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Do the following. (Give the number of periods and the number of years, rounded t

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