Question 1148971
<br>
{{{A = P(1+r/n)^(nt)}}}<br>
A = final value
P - beginning value (principal)
r = annual rate
n = number of compounding periods per year
t = number of years<br>
{{{100000 = 10000(1+.07/4)^((4*t))}}}<br>
The unknown is in an exponent, so an algebraic solution requires logarithms.  An easier method is using a graphing calculator.  I will guess that those are the two solution methods "below"....<br>
Using logs....<br>
{{{100000 = 10000(1+.07/4)^((4*t))}}}
{{{10 = (1.0175)^(4*t)}}}
{{{log((10)) = 4t*log((1.0175))}}}
{{{t = (log((10))/log((1.0175)))/4}}}<br>
Use a calculator....<br>
With a graphing calculator....<br>
Y1 = 10000(1.0175)^(4x)
Y2 = 100000<br>
Graph and find the point of intersection<br>