Find the time required for an investment of $ 5000 to grow to $ 7800 at an interest rate of 7.5 percent per year, compounded quarterly. Round to 2 decimal places. t = years.

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
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Find the time required for an investment of $ 5000 to grow to $ 7800 at an interest rate of 7.5 percent per
year, compounded quarterly. Round to 2 decimal places.
t =
years.
Transcribed Image Text:Find the time required for an investment of $ 5000 to grow to $ 7800 at an interest rate of 7.5 percent per year, compounded quarterly. Round to 2 decimal places. t = years.
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