1.1^n = 4
n log 1.1 = log 4
n = log 4/log 1.1 = 14.5
(1 + r/2)^10 = 3500/2000
10 log (1 + r/2) = log 1.75
log (1 + r/2) = .0243
1 + r/2 = 1.05756
r/2 = .05756
r = .115 or 11.5 %
6.how long will it take for a sum of money to quadruple at 10 percent compounded annually ?
7. At what rate compounded semi-annually will RM2000 become RM 3500 in five years ?
1 answer
1 answer