imthebestatcod
24.07.2021 •
Mathematics
Suppose $1,000 was deposited into an account compounded quarterly that grew to $1,490 at rate of 6%. How long did it take for this to occur?
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Ответ:
A (1 + i)^n = 1490 time for amount to reach 1490
(1 + i)^n = 1.49 since A = $1000
n log (1 + .06/4) = log 1.49 take log of both sides at 1.5% per quarter
n = log (1.49) / log 1.015 = 26.78 periods or 6.695 years
(compare to 6.843 years compounded annually)
Ответ:
What
Step-by-step explanation: