Susan needs $4029 for a future project. She can invest $3000 now at an annual rate of 7%, compounded quarterly. Assuming that no withdrawals are made, how long will it take for her to have enough money for her project? Do not round any intermediate computations, and round your answer to the nearest hundredth.
Susan needs $4029 for a future project. She can invest $3000 now at an annual rate of 7%, compounded quarterly. Assuming that no withdrawals are made, how long will it take for her to have enough money for her project? Do not round any intermediate computations, and round your answer to the nearest hundredth.
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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Susan needs $4029 for a future project. She can invest $3000 now at an annual rate of 7%, compounded quarterly. Assuming that no withdrawals are made, how long will it take for her to have enough money for her project? Do not round any intermediate computations, and round your answer to the nearest hundredth.
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