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Question 1

How long will it take an investment to grow from $ 1,000 to $ 4,570 if it earns 6 % compounded semi - annually (2)? (express your answer in years, rounded to two decimal places)

Question 2

Mr. Jones earned $ 39.02 interest on his investment over the past 5 months . If the investment pays interest at a simple rate of 5.50 % per annum, how much did he originally invest? Round your answer to 2 decimal places (dollars and cents).

Question 3

Rob invested $ 5,400 for 14 months at a simple interest rate of 8 % per year. How much interest did he earn? Express your answer to 2 decimal places. Do not put the $ symbol in the answer box.

Question 4

How much will a $ 7,700 investment grow to become after 8.5 years if it earns 5.6 % compounded quarterly? Express your answer in dollars and cents but do not include the $ sign.

Reference no: EM133071579

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