document.write( "Question 438375: $1500 is invested at 4% compounded quarterly. In how many years will the account have grown to $14,500? Round to the nearest tenth of a year. \n" ); document.write( "

Algebra.Com's Answer #303177 by ewatrrr(24785) $\"\"$ $\"About$

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document.write( "Hi
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document.write( "A= p(1+r/n) ^nt 
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document.write( "$1500 is invested at 4% compounded quarterly.
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document.write( "In how many years will the account have grown to $14,500? 
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document.write( " 145,000 = 1500(1 + .04/4)^(4t)
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document.write( " 145,000/1500 = 1.01^4t
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document.write( " log(96.6667)/log(1.01) = 4t
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document.write( "        459.4 = 4t
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document.write( "        114.9 = t  (rounded to the nearest tenth of a year) \n" );
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