Need Help With: tripling money @ 5%, investing $100,000

[TBingham]

If anyone can, please answer these questions for me. I really am stuck on these!!

1.
How long will it take to triple money with a growth rate of 5 % and 12 % respectivelyÉ

2.
If you invested $100,000. today. At 5% per year what sum can you withdraw at the end of each year, for a period of 20 years, before your money is exhausted?

 

[Deleted member 4993]

If anyone can, please answer these questions for me. I really am stuck on these!!

1.
How long will it take to triple money with a growth rate of 5 % and 12 % respectivelyÉ

2.
If you invested $100,000. today. At 5% per year what sum can you withdraw at the end of each year, for a period of 20 years, before your money is exhausted?

Hint: Use the future value formula

What are your thoughts?

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