1) how long will it take $10,000 to grow to $12,000 if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to one decimal place.)

2) Find the interest rate needed for an investment of $7,000 to quadruple in 5 years if interest is compounded continuously. (Round your answer to the nearest hundredth of a percentage point.)

3) How long will it take for an investment of $5,000 to double if the investment earns interest at the rate of 9%/year compounded continuously? (Round your answer to one decimal place.)

4) Bernie invested a sum of money 5 years ago in a savings account, which has since paid interest at the rate of 3%/year, compounded quarterly. His investment is now worth$17,574.81. How much did he originally invest? (Round your answer to the nearest cent.)

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