Question: (Compound value solving for n) How many years will the following take? a. $500 to grow to $1,152.27 if invested at 11 percent compounded annually

 (Compound value solving for n) How many years will the following

(Compound value solving for n) How many years will the following take? a. $500 to grow to $1,152.27 if invested at 11 percent compounded annually b. $38 to grow to $69.47 if invested at 9 percent compounded annually c. $110 to grow to $346.69 if invested at 11 percent compounded annually d. $55 to grow to $70.20 if invested at 5 percent compounded annually a. How many years will it take for $500 to grow to $1,152.27 if invested at 11 percent compounded annually? years (Round to the nearest whole number.) b. How many years will it take for $38 to grow to $69.47 if invested at 9 percent compounded annually? years (Round to the nearest whole number.) c. How many years will it take for $110 to grow to $346.69 if invested at 11 percent compounded annually? years (Round to the nearest whole number.) d. How many years will it take for $55 to grow to $70.20 if invested at 5 percent compounded annually? years (Round to the nearest whole number.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!