An investment compounds quarterly, or 4 times a year, and has a published annual interest rate of 3.4% The initial investment is $⁢8,000 Which equation can the investor use to find out how long it will take for the value to reach $⁢8.276⁢.28 ?

Question

Revolt · Accepted Answer

8 comma 276 point 2 8 is equal to 8 comma 000 times open paren 1 plus 0 point 0 3 4 over 4 close paren raised to the 4 t power

N/A - Exam Exam

An investment compounds quarterly, or 4 times a year, and has a published annual interest rate of 3.4% The initial investment is $⁢8,000 Which equation can the investor use to find out how long it will take for the value to reach $⁢8.276⁢.28 ?

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