Find the time required for an investment of 5000 dollars to grow to 8800 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is t = (round to 2 decimal places) years
Find the time required for an investment of 5000 dollars to grow to 8800 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is t = (round to 2 decimal places) 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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Transcribed Image Text:Find the time required for an investment of 5000 dollars
to grow to 8800 dollars at an interest rate of 7.5 percent
per year, compounded quarterly.
Your answer is t =
(round to 2 decimal places)
years
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