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A person invests 7000 dollars in a bank. The bank pays 4% interest compounded quarterly. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 14700 dollars?
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A person invests 7000 dollars in a bank. The bank pays 4% interest compounded quarterly. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 14700 dollars?

User Xuzhe
by
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2 Answers

4 votes

Answer:

18.6

Explanation:

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User Ahmad Naqibul Arefin
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7.8k points
7 votes

Answer:

18.6

Explanation:

User Faruque
by
7.9k points
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