Answered: Carly wants to invest $1000 in an…

Carly wants to invest $1000 in an account that earns 8% interest, compounded quarterly. How many years will it take for he account to have a value of $5000? Round to the nearest whole number.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter9: Sequences, Probability And Counting Theory

Section9.4: Series And Their Notations

Problem 62SE: Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest,...

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Carly wants to invest $1000 in an account that earns 8% interest, compounded quarterly. How many years will it take for he account to have a value of $5000? Round to the nearest whole number.

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