Question: 2 . We sometimes need to find how long it will take a sum of money ( or anything else ) to grow to some
We sometimes need to find how long it will take a sum of money or anything else to grow to some specified amount. Note that you should enter PV as a negative and FV as a positive.
a For example, if a companys sales are growing at a rate of per year, how long will it take sales to double? Show your answer to decimals xxx years Do not approximate using the rule of
b If you want an investment to triple in thirteen years, what interest rate must it earn? Show your answer to decimals xxx
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