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%?
