Asked by Anonymous
Find the number of years for $4800 to grow to $9400 at 6% compounded quarterly. Round to the nearest tenth of a year.
Answers
Answered by
drwls
9400/4800 = (1.015)^4y = 1.9583
where y is the number of tears.
Solve for y. I recommend using logs
4y = log1.9583/log1.015
y = 11.3 years
where y is the number of tears.
Solve for y. I recommend using logs
4y = log1.9583/log1.015
y = 11.3 years
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.