Question: To solve each problem, refer to the formulas for compound interest. A = r(1 + ) tn tn A = P1 + and A =

To solve each problem, refer to the formulas for compound interest. A = r(1 + )

Kurt wants to buy a $30,000 truck. He has saved $27,000. Find the number of years (to the nearest tenth) it will take for his $27,000 to grow to $30,000 at 4% interest compounded quarterly.

A = r(1 + )" tn tn A = P1 + and A = Pet

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