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- Dec 22nd 2006, 05:59 PM #1

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## Help

1) if an old stamp is currently worth $60. The stamp's value will grow exponential by 15% each year. When will the stamp be wroth three times its intial value?

2) Mark invests $500 in a savings plan that pays interest, which is compounded monthly. At the end of 10 years, his intial investment is worth $909.70. What interest rate did the plan pay?

- Dec 23rd 2006, 02:28 AM #2

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- Dec 23rd 2006, 02:34 AM #3

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