I invest $100 and the ROI is 6.5% per day...
After 24 days the investment expires. How much will I make after a 24 day period?
ROI = Return on investment.
2006-07-31 02:13:37 · 19 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
---Added Note: Thanks for the replies.
This 'thing' pays me 6.5% of my investment every day. My investment is $100.
2006-07-31 02:30:01 · update #1
100*(1.065)^24 = 453.31
You will have $453.31 (to the nearest penny) at the end of 24 days.
You will have made $353.31 if you don't count your initial investment.
2006-07-31 02:17:52 · answer #1 · answered by mathsmart 4 · 1⤊ 0⤋
The amount of your account will be $453.31. You can get a quick and dirty answer to problems like this by using the Rule of 70/72: divide the interest rate (%) into either 70 or 72 (whichever is the easier arithmetic) and that will give you the number of periods required to double the investment. In this case, about eleven periods are required, so 22 periods would double it twice, and two more would add about another 13%. Or you can use a scientific calculator, as I just did.
2006-08-07 07:44:53 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I = PRT/100 I = interest, P = original amount of money
= (100 x 6.5 x 24) / 100 R- rate, T = time
= $156
After 24 days = 100 + 156
=$256
2006-08-06 01:44:53 · answer #3 · answered by Vanessa C 2 · 0⤊ 0⤋
Depends if the Return on Investment is cumulative or not.
Does the interest get reinvested back into the value of investment, or is it paid out at the end of the 24 day period only?
2006-07-31 02:20:58 · answer #4 · answered by ◄ Mal ► 3 · 0⤊ 0⤋
I presume you mean that after 24 days you cash our your investment.
After 24 days, your money would grow to $100 x (1.065^24) = $453.31. You will have made $353.31.
2006-07-31 02:20:16 · answer #5 · answered by NotEasilyFooled 5 · 0⤊ 0⤋
100*(1.065)^24 = 453.31
You will have $453.31 (to the nearest penny) at the end of 24 days.
You will have made $353.31 if you don't count your initial investment.
2006-07-31 03:50:37 · answer #6 · answered by friendly to u 2 · 0⤊ 0⤋
$453
2006-08-07 20:02:54 · answer #7 · answered by sreej 2 · 0⤊ 0⤋
Hint. The software Excel offer a formula and a procedure to evaluate this.
2006-07-31 02:21:10 · answer #8 · answered by vahucel 6 · 0⤊ 0⤋
One quarter is (a million/4) (a million/4) section = one hundred sixty acres so a million section = 4 * one hundred sixty acres 1section = 640 acres 1acre produces 2500 gallons of soymilk so 1section produces 640 * 2500 gallons of soymilk 1section produces a million,six hundred,000 gallons of soymilk
2016-12-10 18:46:36 · answer #9 · answered by ? 4 · 0⤊ 0⤋
You will have $453.31 (to the nearest penny) at the end of 24 days.
2006-07-31 02:31:41 · answer #10 · answered by skahmad 4 · 0⤊ 0⤋