How much time will be needed for $36,000 to grow to $41,359.74 if deposited at 7% compounded quarterly? For calculating use kt A=P[1 + =7) " the formula A = P The amount $36,000 will grow to $41,359.74 in year(s). (Do not round until the final answer. Then round to the nearest tenth as needed.)
How much time will be needed for $36,000 to grow to $41,359.74 if deposited at 7% compounded quarterly? For calculating use kt A=P[1 + =7) " the formula A = P The amount $36,000 will grow to $41,359.74 in year(s). (Do not round until the final answer. Then round to the nearest tenth as needed.)
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Transcribed Image Text:How much time will be needed for $36,000 to
grow to $41,359.74 if deposited at 7%
compounded quarterly? For calculating use
kt
A=P[1 + =7) "
the formula A = P
The amount $36,000 will grow to
$41,359.74 in year(s).
(Do not round until the final answer.
Then round to the nearest tenth
as needed.)
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