WorkSheet Chapter 6: Simple and compound interest
13 Calculate the compound interest earned when $13 500 is invested at 7% p.a. compounded quarterly for 3 years. 14 By guessing and checking, find how long it will take an investment of $5000 to grow to $8812.85 if the compound interest rate is 6.5% p.a. Answer correct to the nearest year. ................
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