Question 1052057

How much would you have to put in the bank today at 5% to accumulate $1,000 by next year? 
Answer: 392
If you double your money in 5 years, what interest rate did you earn?
Answer = 14.87
If you triple your money in 10 years, what interest rate did you earn?
Answer = 11.60

I have to insert all of this into my BAII Plus calculator.
<pre>Compounded annually, {{{highlight_green(matrix(1,3, 952.3809524, or, "$952.38"))}}} will accumulate to $1,000 in a year, at an interest rate of 5%. Where did you get $392 from?
Doubling the $952.38 in 5 years, to $1,904.76, will DEFINITELY take an interest rate of 14.87, as you stated.
Tripling the $952.38 in 10 years, to $2,857.14, will take an interest rate of 11.61%.