Question

can u please slove it right now​

Answer 1

Answer:

9 months

Step-by-step explanation:

Use the Periodic Compound Interest formula:

Compound interest = $P(1+\frac{i}{n} )^{nt}$

where,

P = principal invested

i = nominal rate of interest

n = number of compounding periods in a year

t = time in years

Therefore,

P = 8000

i = 20% = 20/100 = 0.2

n = 4 (every quarter)

t = t

$9261=8000(1+\frac{0.2}{4} )^{4t}$

$9261=8000(1.05)^{4t}$

$\frac{9261}{8000} =1.05^{4t}$

$ln(\frac{9261}{8000} )=4tln(1.05)$

$t=\frac{ln(\frac{9261}{8000} )}{4ln(1.05)}$

$t=\frac{3}{4}$

As t is measured in years, 3/4 of a year = 0.75 x 12 = 9 months