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Phổ biến >

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.

Lời Giải

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 .

Lời Giải

Time : 2.45

Các bước giải pháp

Translate the problem into an equation:

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

Giải

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

Time : 2.45367 \dots

Làm tròn

2.45367 \dots

tới gần nhất 2 decimal places:

2.45

Time : 2.45

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