A student has found a great investment deal. She has found a way to receive an annual interest rate of 12%, compounded quarterly. If she has $600 to invest now and wants to end up with $1000 from this investment, how long will it take for her investment to reach that goal? Submit you answer in years and round your answer to the one decimal place. For example: 8.2 For your information: log 5 log 3 log 1.03 log 5 log 3 4 log 1.03 17.3 4.3 %3D log 5 + log 3 4 log 1.03 log 5 + log 3 10g 1.03 22.9 91.7
A student has found a great investment deal. She has found a way to receive an annual interest rate of 12%, compounded quarterly. If she has $600 to invest now and wants to end up with $1000 from this investment, how long will it take for her investment to reach that goal? Submit you answer in years and round your answer to the one decimal place. For example: 8.2 For your information: log 5 log 3 log 1.03 log 5 log 3 4 log 1.03 17.3 4.3 %3D log 5 + log 3 4 log 1.03 log 5 + log 3 10g 1.03 22.9 91.7
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Transcribed Image Text:A student has found a great investment deal. She has found a way to receive an
annual interest rate of 12%, compounded quarterly. If she has $600 to invest now
and wants to end up with $1000 from this investment, how long will it take for her
investment to reach that goal?
Submit you answer in years and round your answer to the one decimal place.
For example: 8.2
For your information:
log 5 - log 3
log 1.03
log 5 log 3
4 log 1.03
17.3
4.3
log 5 + log 3
log 5 + log 3
10g 1.03
22.9
91.7
%3D
4 log 1.03
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