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A deposit of $5,000 earns interest at 4% compounded semi-annually. After three-and-a-half years, the interest rate...

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Finance

A deposit of $5,000 earns interest at 4% compoundedsemi-annually. After three-and-a-half years, the interest rate ischanged to 4.5% compounded quarterly. How much is the account worthafter 7 years?

Jan is saving for a new bike that will cost $800. She has $500,which she has invested at 7% compounded semi-annually. How manyyears will it be (approximately) until she has $800?

How long will it take for money to double if it is compoundedquarterly at 6%?

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