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Popular Word Problems >

how many years will it take 9000 to grow to 17900 if invested at 9% compounded quarterly

Solution

h o w man y ye a rs w i ll i t t ak e 9000 t o g ro w t o 17900 i f in v es t e d a t 9% co m p o u n d e d q u a r t er l y

Solution

Time : 7.73

Solution steps

Translate the problem into an equation:

17900 = 9000 (1 + \frac{0.09}{4})^{4 t}

Solve for

t, 17900 = 9000 (1 + \frac{0.09}{4})^{4 t} : t = 7.73

Time : 7.73

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