Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. a person invests 3500 dollars in a bank. the bank

A person invests 3500 dollars in a bank. The bank pays 6.75% interest compounded quarterly....

70.2K

Verified Solution

Question

Basic Math

image

A person invests 3500 dollars in a bank. The bank pays 6.75% interest compounded quarterly. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 8500 dollars?A = P(1 + r)??

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Rank each of the following compounds in decreasing order of reactivity towards Friedel-Crafts alkylation. Most reactive...

Mechanical Engineering
1.2K views

Which of the following is not the charecterstic of Pallet loads placed on racks in multi-rackStructure:...

Advance Math
1.2K views

prove that every integer is either even or odd but never both.

Biology
1.2K views

The weekly paychecks for 10 part time employees are 140 132 200 150 175 200...

Calculus
1.2K views

Find the average rate of change of the function f x 2x from 2 to...

Accounting
1.2K views

5. Darth Company sells three products. Sales and contribution margin...

Accounting
1.2K views

Using the spreadsheet, prepare the following for the most recent two years: ...

Accounting
1.2K views

all 4 journal entries please! Eastern Manufacturing is involved with several situations that...

Accounting
1.2K views

I NEED THE ANSWERS FOR F, G1, G2 AND H1. THE OTHER ARE ALREADY ANSWERED....

Accounting
1.2K views

1- 2- Match the accounting terminology...

Finance
1.2K views

Max is considering two projects both of which have an initial cost of $13,000 and...

Finance
1.2K views

Given the following cash flows for Project M: C0 = -1,000, C1 = +200, C2...