Calculate the amount of time
Consider a savings account that pays an annual interest rate of 8%. Calculate the amount of time it would take to double your money. Round to the nearest year.
A. 7 years
B. 8 years
C. 9 years
D. 10 years
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A zero-coupon bond with a maturity of 10 years has an annual effective yield of 10%. What is the closest value for its modified duration?
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The company has an agreement with a bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded.
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Bombay makes bicycle seats that they sell for $33 to retailers. Annually they produce and sell 20,000 units. Their costs are as follows.
Lisa Smith, the treasurer of Bank AAA, has $100 million to invest for one year. She has identified three alternative one-year certificates of deposit (CDs), with different compounding periods and annual rates.
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