Use the formula A=P(1+r/n)^nt to solve the compound interest problem. Find how long it takes a $1500 investment to earn $300 interest if it is invested at 3% interest compound quaterely.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 66SE: Kyoko has 10,000 that she wants to invest. Her bankhas several investment accounts tochoose from,...
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Use the formula A=P(1+r/n)^nt to solve the compound interest problem. Find how long it takes a $1500 investment to earn $300 interest if it is invested at 3% interest compound quaterely.
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