FIN 370 Week 2 Individual My FinanceLab Problems New-Shoptutorial
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# FIN 370 Week 2 Individual My FinanceLab Problems New-Shoptutorial

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## Related to checkpoint 5.5) (solving for n)How many years will it take for \$500 to grow to \$1,048.85 if it,s invested at 6 percent compounded annually?

FIN 370 Week 2 MyFinanceLab | Complete the Week Two Practice in MyFinanceLab.

royalreddy7's insight:

Lance Murdock purchased a wooden statue of a Conquistador for \$7,600 to put in his home office 7 years ago. Lance has recently married, and his home office is being converted into a sewing room. His new wife, who has far better taste than Lance, thinks the Conquistador is hideous and must go immediately. Lance decided to sell it n e-bay and only received \$5,200 for it, and so he took a loss on the investment. What was his rate of return, that is, the value of i?

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## Related to checkpoint 5.4) (present value) Sarah Wiggum like to make a single investment and have \$ 2.0 million at the time of her retirement in 35 years.

FIN 370 Week 2 MyFinanceLab | Complete the Week Two Practice in MyFinanceLab.
royalreddy7's insight:

Related to checkpoint 5.5) (solving for n)How many years will it take for \$500 to grow to \$1,048.85 if it,s invested at 6 percent compounded annually?

The number of years it will take for \$500 to grow to \$1,048.85 at 6 percent annually is ...... years?

royalreddy7's curator insight,

Lance Murdock purchased a wooden statue of a Conquistador for \$7,600 to put in his home office 7 years ago. Lance has recently married, and his home office is being converted into a sewing room. His new wife, who has far better taste than Lance, thinks the Conquistador is hideous and must go immediately. Lance decided to sell it n e-bay and only received \$5,200 for it, and so he took a loss on the investment. What was his rate of return, that is, the value of i?

 Scooped by royalreddy7

## Related to checkpoint 5.5) (solving for n)How many years will it take for \$500 to grow to \$1,048.85 if it,s invested at 6 percent compounded annually The number of years it will take for \$500 to gr...

FIN 370 Week 2 MyFinanceLab | Complete the Week Two Practice in MyFinanceLab.
royalreddy7's insight:

Lance Murdock purchased a wooden statue of a Conquistador for \$7,600 to put in his home office 7 years ago. Lance has recently married, and his home office is being converted into a sewing room. His new wife, who has far better taste than Lance, thinks the Conquistador is hideous and must go immediately. Lance decided to sell it n e-bay and only received \$5,200 for it, and so he took a loss on the investment. What was his rate of return, that is, the value of i?

royalreddy7's curator insight,

Related to checkpoint 5.5) (solving for n)How many years will it take for \$500 to grow to \$1,048.85 if it,s invested at 6 percent compounded annually?

The number of years it will take for \$500 to grow to \$1,048.85 at 6 percent annually is ...... years?

 Scooped by royalreddy7

## Leslie Mosallam, who recently sold her Porsche, placed \$10,000 in a savings account paying annual compound interest of 6%.

FIN 370 Week 2 MyFinanceLab | Complete the Week Two Practice in MyFinanceLab.
royalreddy7's insight:

Leslie Mosallam, who recently sold her Porsche, placed \$10,000 in a savings account paying annual compound interest of 6%.

No comment yet.