Question

A sum of $250,000 earns interest at a rate of 12% per year compounded quarterly. How long will it take for the investment to grow to $400,000? is there any formula applied here to calculate?

Answer 1

Answer:

bro you try this question dopble time and come in repeat questions

Answer 2

Answer:

Principal = $250,000

Amount = $ 400,000

Rate % = 12%

SI = P×R×T

100

400,000 = 250,000×1.2×T

100

400,000 = 2,500×1.2×T

400,000 = T

2,500×1.2

4,000 = T

25×1.2

160 = T

1.2

160×100 = T

12

40×100 = T

3

400 = T

3

133.3 = T