Find the time required for an investment of 5000 dollars to grow to 7400 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is t= years.

Lösung

Lösung

Time : 5.28

Schritte zur Lösung

Translate the problem into an equation:

7400 = 5000 (1 + \frac{0.075}{4})^{4 t}

Löse nach

t, 7400 = 5000 (1 + \frac{0.075}{4})^{4 t} : t = 5.28

Time : 5.28

Beliebte Beispiele

The sum of three numbers is 79 . The second number is 2 times a number. The first number is 7 more than a number 5 less than the product of two and a number.Jack is twice as old as Lacy. In three years, the sum of their ages will be 54.how old will be lacy three years from now A number more than 2.the sum of two numbers is 22 and their differenz is 12