Answered

Find solutions to your problems with the help of IDNLearn.com's expert community. Find accurate and detailed answers to your questions from our experienced and dedicated community members.

Rhonda is 22 years old and would like to invest $2;000 into a U.S, Treasury Note earning 5.5% interest. How many times will Rhonda's investment double before she draws it out at age 70?

Sagot :

Answer:

Rhonda is 22 years old and would like to invest $2,000 into a U.S. Treasury Note earning 7.5'0 interest. How many times will Rhonda's investment double before she withdraws it at age 70? 72 I 7.5 = 9.6 (Money will double in 9.6 years) 70 - 22 = 48 years 48 I 9.6 = 5 times (her money will double 5 times until she is 70.

Step-by-step explanation:

Thank you for being part of this discussion. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Trust IDNLearn.com for all your queries. We appreciate your visit and hope to assist you again soon.