A $2500 investment earns 8% interest, compounded quarterly (4 times a year).a)Write an equation for the value of the investment as a function of time, V (t), witht in years.b)How long will it take for the investment to be worth $4000?c)Change the base of the power so its exponent is just "t".

Given- A $2500 investment earns 8% interest, compounded quarterly (4 times a year). To find- Write…

Answered: A $2500 investment earns 8% interest,…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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A $2500 investment earns 8% interest, compounded quarterly (4 times a year). a) Write an equation for the value of the investment as a function of time, V (t), witht in years. b) How long will it take for the investment to be worth $4000? c) Change the base of the power so its exponent is just "t".