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Mathematics 15 Online
OpenStudy (anonymous):

Find the time required for an investment of 5000 dollars to grow to 8400 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is ?

OpenStudy (anonymous):

5000 ( 1.075) ^ t = 8400 1.075^t = 1.68 t = log 1.68 to the base 1.075

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