Question

What is the time required for an investment of 5000 dollars to grow to 7200 dollars at an interest rate of 7.5 percent per year, compounded quarterly.

Answer 1

see explanation

Explanation:

by using formulla :- I= p×t×r/100

7200 =5000×t×7.5/100

7200 =375×t

375t = 7200

t = 19.2

hope it will help you