Problem 4-5: Calculating the Number of Periods [LO 4]

Solve for the unknown number of years in each of the following:

1. A = P(1 + r/n)^(nt)
Find the number of years when the principal amount (P) is $5000, the interest rate (r) is 5%, the compounding frequency (n) is 2, and the final amount (A) is $8000.

2. A = P(1 + r/n)^(nt)
Determine the number of years required for the principal amount (P) to triple, given an interest rate (r) of 8%, a compounding frequency (n) of 4, and an initial amount (A) of $10000.

3. A = P(1 + r/n)^(nt)
Calculate the number of years it takes for the principal amount (P) to quadruple, with an interest rate (r) of 3%, a compounding frequency (n) of 1, and a final amount (A) of $2000.

4. A = P(1 + r/n)^(nt)
Find the number of years needed for the principal amount (P) to double, given an interest rate (r) of 6%, a compounding frequency (n) of 2, and a final amount (A) of $500.

Note: Please do not round intermediate calculations and round your answers to 2 decimal places.