How long will it take $10,000 to grow to $12,000 if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to one decimal place.) ?yr. Find the interest rate needed for an investment of $10,000 to grow to $12,000 in 5 years if interest is compounded continuously. (Round your answer to the nearest hundredth of a percentage point.) ?%. Omar's current annual salary is $63,000. How much will he need to earn (in dollars) 10 years from now to retain his present purchasing power if the rate of inflation over that period is 3%/year? Assume that inflation is continuously compounded. (Round your answer to two decimal places.) ?$