Find the time required for an investment of 5000 dollars to grow to 6300 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is t= years. You may enter the exact value or round to 2 decimal places.
Find the time required for an investment of 5000 dollars to grow to 6300 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is t= years. You may enter the exact value or round to 2 decimal places.
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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![Question 83
>
Find the time required for an investment of 5000 dollars to grow to 6300 dollars at an interest rate
of 7.5 percent per year, compounded quarteriy.
Your answer is t =
years.
You may enter the exact value or round to 2 decimal places.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb0adaf10-eab5-4989-9a6e-cf21f53e8bac%2F31f7a7c1-b9cb-4714-8d10-394125503ecd%2F6lhlw1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 83
>
Find the time required for an investment of 5000 dollars to grow to 6300 dollars at an interest rate
of 7.5 percent per year, compounded quarteriy.
Your answer is t =
years.
You may enter the exact value or round to 2 decimal places.
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