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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 t= ?
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OpenStudy (amistre64):
8400 = 5000(1 + .075/4)^(4t)
OpenStudy (amistre64):
t = abt 7
OpenStudy (amistre64):
6.981......
OpenStudy (anonymous):
yes! thank you!
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