HELP! How long does it take for an $1100 investment to earn $400 interest...?

Question

if it is invested at %5 interest compounded quarterly??

THANK YOU SO MUCH!!

Answer 1

You'll have just over $400 interest after 21 months.

Answer 2

Exactly 5 quarters or 1500 days. You will earn $403.91.

If you're saying exactly $400, then just minus  off few days.

Answer 3

depends on the interest rate.  if you could find 3.5 to 4 percent interest it should take a year or so.  i don't think in this economy you will find such interest rates.  2 percent would take a little less then two years.