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4.Find the term of the compound interest loan. (Round your answer to two decimal places.) 5.9% compounded quarterly to obtain $8600 from a principal of

4.Find the term of the compound interest loan. (Round your answer to two decimal places.)

5.9% compounded quarterly to obtain $8600 from a principal of $2000.

5.Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.)

4% compounded annually.

"rule of 72" yr exact answer yr

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