math(compunded interest ) long will it take for a sum of money to quadruple at 10 percent compounded annually ?

7. At what rate compounded semi-annually will RM2000 become RM 3500 in five years ?

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  1. 1.1^n = 4
    n log 1.1 = log 4
    n = log 4/log 1.1 = 14.5

    (1 + r/2)^10 = 3500/2000

    10 log (1 + r/2) = log 1.75

    log (1 + r/2) = .0243

    1 + r/2 = 1.05756
    r/2 = .05756
    r = .115 or 11.5 %

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