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solve the followings questions 3. You placed $5,000 in a trust fund for your son. In 12 years the fund will be worth $10,000. What

solve the followings questions

3. You placed $5,000 in a trust fund for your son. In 12 years the fund will be worth $10,000. What is the rate of return on the trust fund? 4. You need $3,000 to buy a new HDTV system. If you have $1,200 to invest at 6% compounded annually, how long will you have to wait to buy the stereo? 5. At an interest rate of 10% and using the Rule of 72, how long will it take to double the value of a lump sum invested today?

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