Find the time required for an investment of 5000 dollars to grow to 8600 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to 3 decimal places. Your answer is t = years.
Find the time required for an investment of 5000 dollars to grow to 8600 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to 3 decimal places. Your answer is t = years.
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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![Find the time required for an investment of 5000 dollars to grow to 8600 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to 3 decimal places.
Your answer is \( t = \) [ ] years.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3e8ca5a6-77b3-4f88-a5f3-282372d2c0e0%2F6d3ac0ad-7ce4-4a19-bde5-f6837611ec0a%2Fz5tnv7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Find the time required for an investment of 5000 dollars to grow to 8600 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to 3 decimal places.
Your answer is \( t = \) [ ] years.
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