Find the time required for an investment of 5000 dollars to grow to 7000 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to two decimal places
Find the time required for an investment of 5000 dollars to grow to 7000 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to two decimal places
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
Problem 25PS
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Find the time required for an investment of 5000 dollars to grow to 7000 dollars at an interest rate of 7.5 percent per year, compounded quarterly.
Round your answer to two decimal places
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