Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If a deposit of $14,000 is made into an account earning 4.75% interest compounded quarterly, how long will it take the amount in the account

If a deposit of $14,000 is made into an account earning 4.75% interest compounded quarterly, how long will it take the amount in the account to become $42,000 in value?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Todays Mood Is Sponsored By Auditing

Authors: Ruby Publishing

1st Edition

B08BG52SST, 979-8655512771

More Books

Students also viewed these Accounting questions

Question

=+independent, then E[ F(Y)] + E[G(X)] = 1+ P[X=Y].

Answered: 1 week ago