SOLUTION: How long does it take an $1100 investment to earn $200 interest if it is invested at 7% interest compounded quarterly?

Question 534914: How long does it take an $1100 investment to earn $200 interest if it is invested at 7% interest compounded quarterly?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Principal P = 1100
Interest = 200
Amount= 1300
years=n
compounded (t) 4 times a year
Rate = 7 0.02
Amount = P*((n+r)/n)^n

1300 = 1100 *( 1 + 0.02 )^ n*t
1.18 = *( 1 + 0.02 )^ n* 4
ln 1.18 = 4 n *ln 1.02
0.17 = 4 0.02 *n
2.41 = n
2.41 years
m.ananth@hotmail.ca
RELATED QUESTIONS
how long it takes a $1200 investment to earn $200 interest if it is invested at 9%... (answered by jpg7n16)

Find how long it takes $1000 investment to earn $100 interest if it is invested at 8%... (answered by Boreal)

How long will it take a $1,700.00 investment to earn $350.00 in interest if it is... (answered by ankor@dixie-net.com,MathTherapy,Alan3354)

How long does it take a $1000 investment to earn $100 interest if it is invested at 4%... (answered by josmiceli)

find how long it takes a $1600 investment to earn $500 interest if it is invested at 4%... (answered by ewatrrr)

Find how long it takes a $1200 investment to earn $600 interest if it is invested... (answered by greenestamps)

How long does it take $1175 to double if it is invested at 6% interest rate compounded... (answered by unlockmath)

Find how long it takes $800 investment to earn $500 interest if it is invested at 3%... (answered by Alan3354)

How many years does it take for an investment to double in value if it is invested at 6% (answered by lwsshak3)