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Find the time required for an investment of 5000 dollars to grow to 6800 dollars at an interest rate of 5.5% per year, compounded quarterly. Round to the nearest year.

Find the time required for an investment of 5000 dollars to grow to 6800 dollars at an interest rate of 5.5% per year, compounded quarterly. Round to the nearest year.
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3 votes
Find the time required for an investment of 5000 dollars to grow to 6800 dollars at an interest rate of 5.5% per year, compounded quarterly. Round to the nearest year.

User Omikad
by
7.5k points

1 Answer

3 votes

Answer:

i think 6 years

Explanation:

User Mmell
by
8.2k points
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