Question

Carrie deposited $5,288.73 into a savings account with an interest rate of 2.3% compounded quarterly. About how long will it take for the account to be worth $8,000?

18 years, 10 months

18 years, 1 month

16 years, 5 month

18 years, 2 months

Answer 1

help

Answer 2

ii got 18 years 2months

Answer 3

\[A=A _{0}(1+\frac{r}{n})^{nt}\]

Answer 4

\[8000=5288.73(1+\frac{.023}{4})^{4t}\]

Answer 5

\[1.51265=1.00575^{4t}\]

Answer 6

whats yur asnwer

Answer 7

....... :)

Answer 8

18 yrs 1 mo

Answer 9

thnks

Answer 10

yw