Question

How long will it take for 5000 to amount to 7000 if it is invested at 8% compounded quarterly​

Answer 1

hey mate:)

Question⤵️

How long will it take for 5000 to amount to 7000 if it is invested at 8% compounded quarterly?

Answer⤵️

Given that:-

Principal= 5000

Amount = 7000

Rate = 8% quarterly or 32% annum

To Find:-

Time taken

Solution:-

$interest = (amount - principal) \\ = > (7000 - 5000) = 2000 \\ = > t = \frac{100 \times i}{p \times r} \\ = > \frac{100 \times 2000}{5000 \times 32} \\ = > \frac{40}{32} = 1.25 \\ hence \: time = 1.25 \: years$

_____________________________