How much is investment worth after nine years
Alice invests $7000 at Bob's bank. Bob compounds interest quarterly at the nominal rate of 5%. How much is Alice's investment worth after nine years? Write either exact expression or a number rounded to two decimal places.
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How much is Alice's investment worth after nine years? Write either exact expression or a number rounded to two decimal places.
Find per annum interest rate required for the investment with continuous compound interest to double in 7.5 years. Write your answer as the percent.
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