find the time required for an investment of 5000 dollars to grow to 9000 dollars at an interest rate of 7.5 percent per year, compounded quarterly.
this is what i have got so far please correct me if i am wrong
so you divide by 5000 on each side leaving you with
Ln1.8 = Ln(1+.075/4)^4t
divide by 4(1+.075/4)
ln1.8/4ln(1+.075/4) = t
then whats next? cuz i got that this above part equals 7.9
so then i replugged it back into the first equation but it says its not correct
used 7.9 ??
If you use brackets then you'll get
Originally Posted by evinez