Use the formula A=P\left(1+r/n)^nt to solve the compound interest problem.
Find how long it takes a 1700$ investment to earn 500$ interest if it is invested at 2% interest compounded quarterly.
500$ interest will be earned in approximately years. (Round to the nearest tenth.)

Question

03-12-2022
Mathematics

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Use the formula A=P\left(1+r/n)^nt to solve the compound interest problem.
Find how long it takes a 1700$ investment to earn 500$ interest if it is invested at 2% interest compounded quarterly.
500$ interest will be earned in approximately years. (Round to the nearest tenth.)

Sagot :

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