How many years will it take a $5000 investment to reach $7500 at an 8% interest rate? (2024)

How many years will it take a $5000 investment to reach $7500 at an 8% interest rate?

Final answer: To reach $7,500 with an 8% interest rate, it would take approximately 9.7 years. Using a calculator, we find that time is approximately 9.7 years.

How long will it take for an investment of $5000 to grow to $7500 if it earns 10% simple interest per year?

Expert-Verified Answer

5 years will it take for an investment of $5000 to grow to $7500 if it earns 10% simple interest per year.

How much will the investment be worth in 20 years if $300 is invested at a rate of 5 per year and is compounded quarter

In this case, P = $300, r = 5%, n = 4 (since interest is compounded quarterly), and t = 20. Therefore, the investment will be worth $1,016.09 after 20 years. None of the answer choices are exactly right, but the closest one is $810.45, which is off by about 25%.

What is the time required for an investment of 5000 dollars to grow to 6000 dollars at an interest rate of 7.5 per year compounded quarterly

Final answer:

To find the time required for an investment to grow to a certain amount, we can use the compound interest formula. In this case, it takes approximately 4 years for an investment of $5000 to grow to $6600 at an interest rate of 7.5% per year, compounded quarterly.

How long will it take $5000 to grow to $7000 if it is invested at 6% compounded quarterly?

it will take approximately 5.3 years for 5,000 to grow to 7,000 if it is invested at 6% compounded quarterly by using formula of compound interest. Therefore, it will take approximately 5.3 years for 5,000 to grow to 7,000 if it is invested at 6% compounded quarterly.

How many years will it take $5000 to grow to $7500 if it is invested at 8% compounded monthly?

Therefore, it takes 5.08 years for $ 5 , 000 \$5,000 $5,000 to grow to $ 7 , 500 \$7,500 $7,500 if it is invested at 8% compounded monthly.

How much do I need to invest to make $1 million in 30 years?

If making investments that yield a 3% yearly return, a 35-year-old would have to invest $1,750 per month to reach $1 million by age 65. If they instead contribute to investments that give a 6% yearly return, they would have to invest $1,050 per month for 30 years to end up with $1 million.

How much do you need to invest to be a millionaire in 30 years?

Assuming that you can earn this 10% average return over your investing career, if you are getting started investing this year and you want to become a millionaire in 30 years, you would need to invest $506.60 per month. This amount may seem like a lot, but it may actually be pretty doable for many people.

How much do you need to invest to be a millionaire in 20 years?

For example, it takes $1,400 per month to reach $1 million in 20 years. However if you can find 30 years to save, it only takes $475 per month to reach the same goal. This isn't easy, but finding the extra time may be easier than finding an extra $12,000 per year.

How long will it take for you to get $100000.00 if you invest $5000.00 in an account giving you 9.7% interest compounded continuously?

t = ln(100,000/5,000)/0.097 ≈ 12.35 years Using the formula for continuous compounding interest, it will take approximately 12.35 years for a $5,000 investment to grow to $100,000 at an interest rate of 9.7% compounded continuously.

How long will it take $5000 to grow to $6500 if the investment earns interest at the rate of 6% per year compounded monthly?

It will take 4.38 years to grow $5000 to $6500 if the investment earns interest rate of 6%/year compounded monthly. t = 4.38 years. A purchase made with the intention of creating income or capital growth is known as an investment. An asset's value increasing over time is referred to as appreciation.

What annual rate of return is earned on a $5000 investment when it grows to $7000 in six years?

What annual rate of return is earned on a $5000 investment when it grows to $9000 in five years?

Answer and Explanation:

The calculated value of the annual rate of return on the given investment is 13.7%. The annual rate of return on the investment is given by: = ( Amount due in 5 years Amount invested today ) 1 Number of Years − 1.

What ROI will double your money in 6 years?

The Bottom Line

For example, to double your money in six years, you would need a rate of return of 12%.

What is $10000 at 6 for 5 years?

What is the future value of $10,000 on deposit for 5 years at 6% simple interest? Hence the required future value is $13,000.

How can I double $5000 dollars?

Can I live off interest on a million dollars?

How much you need to live off interest depends entirely on your expenses and where the balance is invested. A million dollars in a retirement account might produce enough income for the median American to get by, but you'd need larger returns to cover a six-figure lifestyle. Consider your lifestyle goals, too.

How much will $100 grow in 20 years?

Simple Interest vs. Compound Interest

If you were to gain 10% annual interest on $100, for example, the total amount earned per year would be $10. At the end of the year, you'd have $110: the initial $100, plus $10 of interest. After two years, you'd have $120. After 20 years, you'd have $300.

What percentage of retirees have $3 million dollars?

According to EBRI estimates based on the latest Federal Reserve Survey of Consumer Finances, 3.2% of retirees have over $1 million in their retirement accounts, while just 0.1% have $5 million or more.

How much money do I need to invest to make $3000 a month?

Imagine you wish to amass $3000 monthly from your investments, amounting to $36,000 annually. If you park your funds in a savings account offering a 2% annual interest rate, you'd need to inject roughly $1.8 million into the account.

How much money do I need to invest to make $1000 a month?

Invest in Dividend Stocks

A stock portfolio focused on dividends can generate $1,000 per month or more in perpetual passive income, Mircea Iosif wrote on Medium. “For example, at a 4% dividend yield, you would need a portfolio worth $300,000.

What if I invest $100 a month for 30 years?

Investing $100 per month, with an average return rate of 10%, will yield $200,000 after 30 years. Due to compound interest, your investment will yield $535,000 after 40 years. These numbers can grow exponentially with an extra $100. If you make a monthly investment of $200, your 30-year yield will be close to $400,000.

Can I become a millionaire in 5 years by investing?

Let's say you want to become a millionaire in five years. If you're starting from scratch, online millionaire calculators (which return a variety of results given the same inputs) estimate that you'll need to save anywhere from $13,000 to $15,500 a month and invest it wisely enough to earn an average of 10% a year.

How much should I invest a month to become a millionaire in 10 years?

Now, let's consider how our calculations change if the time horizon is 10 years. If you are starting from scratch, you will need to invest about $4,757 at the end of every month for 10 years. Suppose you already have $100,000. Then you will only need $3,390 at the end of every month to become a millionaire in 10 years.

How much will $1,000 invested be worth in 20 years?