fr

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Populaire Word Problems >

Find the time required for an investment of 5000 dollars to grow to 6000 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to two decimal places.

Solution

F in d t h e t im e re q u i re d f or an in v es t m e n t o f 5000 d o ll a rs t o g ro w t o 6000 d o ll a rs a t an in t eres t r a t e o f 7.5 p erce n t p er ye a r, co m p o u n d e d q u a r t er l y . R o u n d yo u r an s w er t o tw o d ec ima l pl a ces .

Solution

Time : 2.45

étapes des solutions

Translate the problem into an equation:

6000 = 5000 (1 + \frac{0.075}{4})^{4 t}

Solutionner pour

t, 6000 = 5000 (1 + \frac{0.075}{4})^{4 t} : t = 2.45367 \dots

Time : 2.45367 \dots

Arrondir

2.45367 \dots

à l'

2 d ec ima l pl a ces

la plus proche:

2.45

Time : 2.45

Exemples populaires

a cube has side length 5cm. What is its volume The différence between twice a number and 6 is 14. FInd the number What is the result when the number 93 is increased by 8%?The sum of four consecutive odd numbers is 40 The sum of two consecutive even integers, of which the smaller is x, is no more than 24