Muhammad has $15,000.00 in an investment account that pays 2.959% compounded quarterly. How many quarters from now will he have $17,002.24 in his account? (Round your answer to the nearest integer - it should be very close to one!)
Muhammad has $15,000.00 in an investment account that pays 2.959% compounded quarterly. How many quarters from now will he have $17,002.24 in his account? (Round your answer to the nearest integer - it should be very close to one!)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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5. the math of interest. please indicate if you are unsure or totally sure about the answer
![Muhammad has $15,000.00 in an investment account that pays 2.959% compounded quarterly. How many
quarters from now will he have $17,002.24 in his account? (Round your answer to the nearest integer - it should
be very close to one!)
a. 20
O b. 21
O
C. 19
d. 13
e.
17
Certainty OC=1 (Unsure: <67%) OC=2 (Mid: >67%) OC=3 (Quite sure: >80%)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4703214b-7b6d-48dc-8fec-73bc2badaa48%2Ffc108330-d292-4b5a-ac4b-f3e297ab99b8%2Fug2mkcp_processed.png&w=3840&q=75)
Transcribed Image Text:Muhammad has $15,000.00 in an investment account that pays 2.959% compounded quarterly. How many
quarters from now will he have $17,002.24 in his account? (Round your answer to the nearest integer - it should
be very close to one!)
a. 20
O b. 21
O
C. 19
d. 13
e.
17
Certainty OC=1 (Unsure: <67%) OC=2 (Mid: >67%) OC=3 (Quite sure: >80%)
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