Future worth, F, has to be found from a present amount, P, five years from now at an interest rate of 6% per year, compounded monthly. What interest rate must be used in the F/P factor, (F/P,i%,n), when n is 10?

How many years will it take an investment to triple if the interest rate is 4% compounded monthly?

Question 1 (1 point) Future worth, F, has to be found from a present amount, P, five years from now at an interest rate of 6% per year, compounded monthly. What interest rate must be used in the F/P factor, (F/P,1%,n), when n is 10? a) Between 0.020-0.021 Ob) None of the answers is correct c) Between 0.040-0.041 d) Between 0.070-0.071 e) Between 0.010-0.011 Question 2 (1 point) How many years will it take an investment to triple if the interest rate is 4% compounded monthly? a) Between 37 and 39 years b) Between 47 and 49 years c) Between 27 and 29 years d) Between 17 and 19 years e) None of the answers is correct