What is the time required for an investment of 5000 dollars to grow to 7200 dollars at an interest rate of 7.5 percent per year, compounded quarterly.

Question

asked Jun 21, 2021 29.5k views

1 Answer

Adrianopolis · Answer 1 · 2021-06-27T13:14:38+0000

Answer:

see explanation

Explanation:

by using formulla :- I= p×t×r/100

7200 =5000×t×7.5/100

7200 =375×t

375t = 7200

t = 19.2

hope it will help you