fr

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Populaire Word Problems >

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.Your answer is t=

Solution

F in d t h e t im e re q u i re d f or an in v es t m e n t o f 5000 d o ll a rs t o g ro w t o 8600 d o ll a rs a t an in t eres t r a t e o f 7.5 p erce n t p er ye a r, co m p o u n d e d q u a r t er l y . Y o u r an s w er i s t =

Solution

Time : 7.3

étapes des solutions

Translate the problem into an equation:

8600 = 5000 (1 + \frac{0.075}{4})^{4 t}

Solutionner pour

t, 8600 = 5000 (1 + \frac{0.075}{4})^{4 t} : t = 7.3

Time : 7.3

Exemples populaires

Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 12% annual interest rate, compounded annually, in ordonner to have 60,000 in the fund at the end of 15 years?Marian invests 8,235.98 in a savings account with a fixed annual interest rate of 6.14 % compounded continuously. What will the account balance be after 15 years?find the slae price of a 36 item after a 50% discount Gabriel and Belle deposited 10,000.00 into a savings account which earns interest compounded continuously. After 1 year, they had 11,039.00 in the account which they used to go on a trip. What was the interest rate on the account?The circonférence of a circle is 22pi ft. What is the area, in square feet? Express your answer in terms of pi