Question 4

solve by hand please

4. Calculating the Number of Periods You've been offered an investment that will pay you 9% per year. If you invest $15,000, how long until you have $30,000? How long until you have $45,000? 5. Compound Interest In 1867, George Edward Lee found on his property in Ontario an astrolabe (a 17th- century navigating device) originally lost by Samuel de Champlain. Lee sold the astrolabe to a stranger for $10. In 1989, the Canadian Museum of Civilization purchased the astrolabe for $250,000 from the New York Historical Society. (How it got there is a long story.) It appears that Lee had been swindled; however, suppose he had invested the $10 at 10% How much was it worth 140 years later in 2007