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Question 5 Homework \( \bullet \) Answered What is the future value of \( \$ 20,000 \) after 12 years earning \( 1.6 \% \) compounded monthly? Round to the nearest whole number.
Suppose you deposited \$13,000 into a savings account earning \( 1.4 \% \) interest. How long will it take for the balance to grow to \( \$ 15,000 \) ? Answer in years rounded to one decimal place.
Suppose you are planning to invest \( \$ 1,000 \). You'd like to grow your investment to \( \$ 2,000 \). If your investment earns an annual return of \( 5 \% \) compounded monthly, how many years will it take to reach your goal? Round to one decimal place. Type your numeric answer and submit