Problem
1. The value of an asset, currently priced at $100 000, is expected to increase by 20% a year.
(a) Find its value in 10 years' time.
(b) After how many years will it be worth $1 million?
2. How long will it take for a sum of money to double if it is invested at 5% interest compounded annually?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.