Compounding Interest - Find Time or Principal
Find the missing component to find out what a butcher weighs if he is 5 foot 9. 5 inches tall and has a size 11 shoe?
1. How long will it take for $2800 to grow to $3000 if invested at 4% interest compounded semiannually?
3. How long will it take for $1000 to grow to $1750 if invested at 5. 75% compounded quarterly?
5. A thousand dollars is left in a credit union drawing 7%. compounded monthly, how many years will it need to be left to produce an ending balance of $2500?
2. How long will it take for $2800 to grow to $3500 if invested at 5% interest compounded quarterly?
4. Three thousand dollars is left in a bank savings account drawing interest compounded quarterly at 5%. How long will it take for the balance to triple?
6. $1750 is invested in an account earning 3. 5% interest compounded continuously. How long will it need to be in an account to double?