Question

# Find the time required for an investment of 5000 dollars to grow to 8900 dollars at...

Find the time required for an investment of 5000 dollars to grow to 8900 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is t = years.

t=4.53 years

source: textbook

#### Earn Coins

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
• ### Find the time required for an investment of 5000 dollars to grow to 7200 dollars at...

Find the time required for an investment of 5000 dollars to grow to 7200 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to two decimal places

• ### Find the time required for an investment of 5000 dollars to grow to 7100 dollars at...

Find the time required for an investment of 5000 dollars to grow to 7100 dollars at an interest rate of 7.5 percent per year, compounded quarterly.

• ### Find the time required for an investment of 5000 dollars to grow to 6000 dollars at...

Find the time required for an investment of 5000 dollars to grow to 6000 dollars at an interest rate of 75 percent per year, compounded quarterly Round your answer to two decimal places Your answer istl Preview years Get help: Video Submit

• ### 1. Find the time required for an investment of 5000 dollars to grow to 7500 dollars...

1. Find the time required for an investment of 5000 dollars to grow to 7500 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to two decimal places Your answer is t= 2. You have \$5,000 on a credit card that charges a 23% interest rate. If you want to pay off the credit card in 4 years, how much will you need to pay each month (assuming you don't charge anything new to...

• ### Find the time required for an investment of 1 dollars to grow to 6700 dollars at...

Find the time required for an investment of 1 dollars to grow to 6700 dollars at an interest rate of 7.5 percent per year, compounded quarterly.

• ### (1 point) Hannah would like to make an investment that will turn 6000 dollars into 31000...

(1 point) Hannah would like to make an investment that will turn 6000 dollars into 31000 dollars in 4 years. What quarterly rate of interest, compounded four times per year, must she receive to reach her goal? Answers percent. (1 point) Find the time required for an investment of 5000 dollars to grow to 6100 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is t = years.

• ### Please solve these i. You deposit \$6000 in an account earning 2% interest compounded monthly. How...

Please solve these i. You deposit \$6000 in an account earning 2% interest compounded monthly. How much will you have in the account in 10 years? ii. Find the time required for an investment of 5000 dollars to grow to 7900 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to two decimal places Your answer is t= iii. You currently have \$2,800 (Present Value) in an account that has an interest rate of...

• ### Hannah would like to make an investment that will turn 8000 dollars into 31000 dollars in...

Hannah would like to make an investment that will turn 8000 dollars into 31000 dollars in 4 years. What quarterly rate of interest, compounded four times per year, must she receive to reach her goal?

• ### Calculate, to the nearest cent, the future value FV of an investment of \$10,000 at the...

Calculate, to the nearest cent, the future value FV of an investment of \$10,000 at the stated interest rate after the stated amount of time. HINT (See Quick Examples 1 and 2.] 7.5% per year, compounded daily (assume 365 days/year), after 12 years FV = \$ Need Help? Read It Watch It Talk to a Tutor . +-/1 points WaneFM7 2.2.012. Calculate the present value PV of an investment that will be worth \$1,000 at the stated interest rate after...

• ### What interest rate compounded quarterly is earned if an investment of \$3000 grows to \$5000 in...

What interest rate compounded quarterly is earned if an investment of \$3000 grows to \$5000 in 2 years?