document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1196857>Question 1196857</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 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 <BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #829899 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52788)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=829899\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .\r<BR>\n" );
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document.write( "The answer and the entire conception of the solution in the post by MathLover1 is INCORRECT.\r<BR>\n" );
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document.write( "The amount of money at the discretely compounded account is not a continuous exponential<BR>\n" );
document.write( "function. The amount is changed discretely at the time moments, when the compounding is <BR>\n" );
document.write( "performed, i.e. at the end of each compounding time interval.\r<BR>\n" );
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document.write( "THEREFORE, in order for the answer be consistent with the problem, the time of 5.1 years<BR>\n" );
document.write( "MUST be rounded to the closest GREATER time of compounding.\r<BR>\n" );
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document.write( "In this problem, the obtained time 5.1 years must be rounded to 5 years and one quarter, <BR>\n" );
document.write( "in order for the bank was in position to make the last compounding.\r<BR>\n" );
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document.write( "I almost 100 times saw in this forum, as the tutors incorrectly solve such problem, <BR>\n" );
document.write( "mistakenly teaching students, that the amount at discretely compounding accounts <BR>\n" );
document.write( "is a continuous function, while it is not so in reality.\r<BR>\n" );
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document.write( "And every time as I noticed it, I issued this my warning.\r<BR>\n" );
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document.write( "But some tutors at this forum ignore it, so I am in doubt, if they themselves are able to learn.\r<BR>\n" );
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