document.write( "Question 1196857: Find the time required for an investment of 5000 dallied to grow to 7300 at an interest rate of 7.5 percent per year, compounded quarterly
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Algebra.Com's Answer #829884 by MathLover1(20850)\"\" \"About 
You can put this solution on YOUR website!
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\n" ); document.write( "\n" ); document.write( "\"A=P%281%2Br%2Fn%29%5E%28nt%29\"\r
\n" ); document.write( "\n" ); document.write( "Given Data:\r
\n" ); document.write( "\n" ); document.write( "Present value:
\n" ); document.write( "\"P=5000\"
\n" ); document.write( "Future value:
\n" ); document.write( "\"A=7300\"
\n" ); document.write( "Rate of interest: \"r=7.5\"%=\"0.075\"
\n" ); document.write( "Number of periods per year; \"+4\"\r
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\n" ); document.write( "\n" ); document.write( "\"7300=5000%281%2B0.075%2F4%29%5E%284t%29\"\r
\n" ); document.write( "\n" ); document.write( "\"7300%2F5000=%281.01875%29%5E%284t%29\"\r
\n" ); document.write( "\n" ); document.write( "\"%281.01875%29%5E%284t%29=73%2F50\"\r
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\n" ); document.write( "\n" ); document.write( "take log of both sides\r
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\n" ); document.write( "\n" ); document.write( "\"log%28%281.01875%29%5E%284t%29%29=log%2873%2F50+%29\"\r
\n" ); document.write( "\n" ); document.write( "\"%284t%29log%281.01875%29=log%2873%29-log%2850+%29\"\r
\n" ); document.write( "\n" ); document.write( "\"t=%28log%2873%29-log%2850+%29%29%2F%284log%281.01875%29%29\"\r
\n" ); document.write( "\n" ); document.write( "\"t=5.092977240303428\"\r
\n" ); document.write( "\n" ); document.write( "\"t=5.1\" \r
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\n" ); document.write( "\n" ); document.write( "approximately \"5.1\" years\r
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