Solve the two questions below. You may right of the question by hand and submit a...

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Solve the two questions below. You may right of the question by hand and submit a picture, or submit the answers on MS WORD. Do not just put a final answer, you must show your work to get a good Mark! Rule of 72: a) Doug invested $2,500 into a Certificate of Deposit earning 6.5% interest. How long will it take to double Doug's investment? b) Jacob has $5,000 that he has saved from doing odd jobs around the neighborhood. When he graduates from college in four years, he would like to have $10,000 to use as a down payment on a new car If Jacob is going to realize his dream, what interest rate will he have to invest ha money at? Time calculation: c) Rounded to the nearest month, how long will it take for $25.000 to grow to $35,000 at 9% compounded quarterly? Solve the two questions below. You may right of the question by hand and submit a picture, or submit the answers on MS WORD. Do not just put a final answer, you must show your work to get a good Mark! Rule of 72: a) Doug invested $2,500 into a Certificate of Deposit earning 6.5% interest. How long will it take to double Doug's investment? b) Jacob has $5,000 that he has saved from doing odd jobs around the neighborhood. When he graduates from college in four years, he would like to have $10,000 to use as a down payment on a new car If Jacob is going to realize his dream, what interest rate will he have to invest ha money at? Time calculation: c) Rounded to the nearest month, how long will it take for $25.000 to grow to $35,000 at 9% compounded quarterly?

Answer rating: 100% (QA)

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