SOLUTION: You have $5,000 to invest, and want it to grow to $20,000 in ten years. What interest rate would you need to find to make this possible?

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Question 1161732: You have $5,000 to invest, and want it to grow to $20,000 in ten years. What interest rate would you need to find to make this possible?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


You want the money to quadruple in 10 years, so either choose , a finite number of compounding periods per year and solve



for or solve



for if you want continuous compounding.

Depending on compounding frequency the rate would be in the range


John

My calculator said it, I believe it, that settles it