Approximately how many years would it take for an investment to grow fivefold if it were invested at 9 percent compounded quarterly? Assume that you invest $1 today. If you invest $1 at 9 percent compounded quarterly, about how many years would it take for your investment to grow fivefold to $5? (Hint: Remember to convert your calculator solution to years.)

Approximately how many years would it take for an investment to grow fivefold if it were invested at 9 percent compounded quarterly? Assume that you invest $1 today. If you invest $1 at 9 percent...

Approximately how many years would it take for an investment to grow

fivefold

if it were invested at

percent compounded

quarterly?

Assume that you invest

today.

If you invest

percent compounded

quarterly,

about how many years would it take for your investment to grow

fivefold

$5?

(Hint:

Remember to convert your calculator solution to years.)

Jun 03, 2022