Question:

Find the time required for an investment of 5000$ to grow to 7600$ at an interest rate of 7.5% per year?

by  |  earlier

0 LIKES UnLike

compounded quarterly

 Tags:

   Report
Answer The Question I've Same Question Too

4 ANSWERS

Sort By: Date  |  Rating

  1. Problem in the finance Final?  Better do it yourself because working for me you would have to.


  2. 5000=p(1+0.075/4)4.1

    you will need a graphing calculator for this.

  3. the fomula is :

    p(1+ r/m)^mxn

    5000(1+ 0.075/4)^4xn =7600

    (1+ 0.075/4)^4xn =7600/5000

    4n Log 1.01875 = Log 7600/5000

    4n = Log 7600/5000 divide log 1.01875

    4n = 22.5399

    n= 22.5399/4

    n=5.63 years

      = or, 5 years and 8 months  

    GOOD LUCK

  4. About 5 years and 8 months.
You're reading: Find the time required for an investment of 5000$ to grow to 7600$ at an interest rate of 7.5% per year?

Question Stats

Latest activity: earlier.
This question has 4 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.
Register Now
Unanswered Questions