Nancy invested $17200 in an account earning 6.2 annual interest that is compounded quarterly. How long will it take to earn $2800 in interest? Round your answer to the nearest tenth.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Module 6: Exponential Growth and Decay
CURRENT OBJECTIVE
Use the compound interest formula to determine the time for an investment to yield a given amount
Question
Nancy invested $17200 in an account earning 6.2 annual interest that is compounded quarterly. How long will it take to
earn $2800 in interest? Round your answer to the nearest tenth.
Provide your answer below:
A FEEDBACK
MORE INSTRUCTION
SUBMIT
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Transcribed Image Text:Module 6: Exponential Growth and Decay CURRENT OBJECTIVE Use the compound interest formula to determine the time for an investment to yield a given amount Question Nancy invested $17200 in an account earning 6.2 annual interest that is compounded quarterly. How long will it take to earn $2800 in interest? Round your answer to the nearest tenth. Provide your answer below: A FEEDBACK MORE INSTRUCTION SUBMIT Content attribution
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