Question: How do you do these? Question 1 (3 points) A sum of money is invested with a 6.5% interest rate compounded five times a year.

How do you do these?

How do you do these? Question 1 (3 points) A sum of

Question 1 (3 points) A sum of money is invested with a 6.5% interest rate compounded five times a year. Answer the following questions. Round all answers to 3 decimal places. (CA) a. How many years does it take for the sum of money to double? 2 b. If the initial sum of money is $425, what will the amount of money be after 7 years? 667.912 c. If the sum of money was compounded continously instead, how many years would it take for the sum of money to double? Blank 1: Blank 2: 667.912 Blank 3

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