10-03-2017
Mathematics

contestada

How many years ago was $5000 invested in an account paying 8% annual interest compounded quarterly,if the amount presently in the account is $11 500

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Aliwohaish12 Aliwohaish12

13-03-2017

T=(log(11,500÷5,000)÷log(1+0.08÷4))/4
T=10.52 years

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