14portia
Answered

Westonci.ca offers quick and accurate answers to your questions. Join our community and get the insights you need today. Explore a wealth of knowledge from professionals across various disciplines on our comprehensive Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

if gh¢400.00 is deposited at a bank at 10% per annum compounded quarterly, how long will it take the deposit to double it value.​

Sagot :

Answer:

~ 7 years

Step-by-step explanation:

2 = (1 + .1/4)^(4t)

2 = (1.025)^(4t)

Take the log of both sides

log2 = 4t * log1.025

divide both sides by log1.025

log2/log1.025 = 4t

28.07103452593863 = 4t

Divide both sides by 4

7.017758631484657 = t

~ 7 years

Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.