1 Find the amount to which $ 6000 will grow if invested at 4% per year compounded quarterly for 5 years. Amount = $

2 How many years does it take a principle to triple in value at 2% p.a. compounded monthly? ___ years.

3 Solve for the number of days needed for $3000 compounded 3 times per year at 5% per annum to become $3100. ___ days.

4 An amount of $2,340 is deposited into a bank paying an annual interest rate of 3.1% compounded continuously. Fill in the blanks: The balance at the end of 3 years is __. It takes approximately __ years for the money to double.

5 Suppose that $700 is compounded continuously for 122 days and the account has grown to $715. The interest rate must have been __ % per year