Solve the problem.
-How long will it take for $1100 to grow to $4800 at an interest rate of 10.9% if the interest is compounded quarterly? Round the number of years to the nearest hundredth.
A) 54.80 yr
B) 13.70 yr
C) 40.58 yr
D) 14.24 yr
Correct Answer:
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Q309: Solve the problem.
-Find the periodic payment of
Q310: Solve the problem.
-Find how long it will
Q311: Solve the problem.
-How long will it take
Q312: Solve the problem.
-How long must $4100 be
Q313: Solve the problem.
-Find the periodic payment of
Q315: Solve the problem.
-Find the present value of
Q316: Determine the doubling time of the investment.
-$14,500
Q317: Solve the problem.
-Find the periodic payment of
Q318: Solve the problem.
-Find the future value accumulated
Q319: Determine the doubling time of the investment.
-8%
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