Hello, Fibonacci!

If $10000 is invested at % compounded annually.

the investment will grow to $P after x years where: .

d) How long will it take for the investment to grow $50 000

if the interest is 14% for the first 8 yrs and 10% thereafter?

The $10,000 is invested at 14% for the first 8 years.

. . Its value will be: . dollars.

Thenamount is invested at 10% for years.that

. . The final value is: .

. . which is to equal $50,000.

There is our equation . . .

Divide by 10,000: .

Divide by

Take logs: .

Therefore: . years.

It will take: .

Let = the required interest rate.e) Find the annual interest rate necessary for the $10 000

to double in value in 5 yrs. (Give your answer as percentage.)

Then: .

Divide by 10,000: .

Take the fifth root: .

Therefore: .