Question: 1. You invested $10600 and in 5 years it grew to $14100. What annual rate of return (APR) must you have earned. Assume annual compounding.
2. You invested $10400 and in 7 years it grew to $11400. What annual rate of return (APR) must you have earned. Assume quarterly compounding.
3. You invest $5760 in a savings account earning 3.10% with annual compounding. How many years will it take for that amount to grow to $17700. Round your answer to the nearest whole number.
4. You invest $5930 in a savings account earning 3.50% with monthly compounding. How many years will it take for that amount to grow to $19500. Round your answer to the nearest whole number.