Question: Need help solving (Compound value solving for n) How many years will the following take? a. $500 to grow to $1,039.50 if invested at 5
Need help solving
(Compound value solving for n) How many years will the following take? a. $500 to grow to $1,039.50 if invested at 5 percent compounded annually b. $35 to grow to $53.87 if invested at 9 percent compounded annually c. $100 to grow to $298.60 if invested at 20 percent compounded annually d. $53 to grow to $78.76 if invested at 2 percent compounded annually a. How many years will it take for $500 to grow to $1,039.50 if invested at 5 percent compounded annually? 15 years (Round to the nearest whole number.) b. How many years will it take for $35 to grow to $53.87 if invested at 9 percent compounded annually? years (Round to the nearest whole number.)Step by Step Solution
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