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Carter invested 16,000 in an account paying an interest rate of 5.6% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach 29,600?4 divided by the difference of 7 and a numberQuinn opened a savings account and deposited 800.00 as principal. The account earns 12% interest, compounded quarterly. What is the balance after 8 years?the quotient of-5 and the product of a number and 23Find the time required for an investment of 5000 dollars to grow to 7200 dollars at an interest rate of 6.5% per year, compounded quarterly.Write an exponential equation and use logarithms to solve it.Round to 4 decimal places.Your answer is years.