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A person invests 3000 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 6500 dollars?
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A person invests 3000 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 6500 dollars? A=P(1+\frac{r}{n})^{nt} A=P(1+ n r ​ ) nt

User Dweeberly
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jswkwbekegeo do six
User Antonin Charvat
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