Solved

How Long Will It Take for $800 to Grow to $1300

Question 213

Multiple Choice

How long will it take for $800 to grow to $1300 at an interest rate of 5.6% if the interest is compounded quarterly? Round the number of years to the nearest hundredth.


A) 8.91 yr
B) 34.92 yr
C) 8.73 yr
D) 29.22 yr

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q208: Write an equivalent expression in exponential

Q209: Use a graphing calculator to estimate

Q210: Determine whether the statement is true

Q211: In year 0 , the number

Q212: The number of reports of a

Q214: Graph the exponential function using transformations where

Q215: If <span class="ql-formula" data-value="f (

Q216: Give the domain and range.<br>- <span

Q217: Use the change of base rule

Q218: The growth in population of a