Rule of 72 – NBC Institute

FM – March 2023 – L2 – Q3b – Simple interest and compound interest

Determine the length of time required to double an investment of GH¢100,000 at an annual interest rate of 15%.

Question

Trimpo Ltd can invest funds in Ghana’s financial market at 15% per annum. Presently, the Treasury Manager of the company is considering investing GH¢100,000.

Required:
Determine the length of time it will take to double the investment (round your answer to the nearest year). (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Compound Interest, Doubling investment, Investment period, Rule of 72
Level: Level 2

Topic: Simple interest and compound interest
Series: MAR 2023

Question Tag: Rule of 72

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

FM – March 2023 – L2 – Q3b – Simple interest and compound interest

Determine the length of time required to double an investment of GH¢100,000 at an annual interest rate of 15%.

FM – March 2023 – L2 – Q3b – Simple interest and compound interest

Determine the length of time required to double an investment of GH¢100,000 at an annual interest rate of 15%.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Rule of 72

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

FM – March 2023 – L2 – Q3b – Simple interest and compound interest

Determine the length of time required to double an investment of GH¢100,000 at an annual interest rate of 15%.

You're reporting an error for "FM – March 2023 – L2 – Q3b – Simple interest and compound interest"

FM – March 2023 – L2 – Q3b – Simple interest and compound interest

Determine the length of time required to double an investment of GH¢100,000 at an annual interest rate of 15%.

You're reporting an error for "FM – March 2023 – L2 – Q3b – Simple interest and compound interest"

Our offerings

Contact Info

Customer

Get In Touch

admin