Question: How much time will be needed for $35,000 to grow to $38,657.01 if deposited at 5% compounded quarterly? The amount $35,000 will grow to

How much time will be needed for $35,000 to grow to $38,657.01

How much time will be needed for $35,000 to grow to $38,657.01 if deposited at 5% compounded quarterly? The amount $35,000 will grow to $38,657.01 in year(s). (Do not round until the final answer. Then round to the nearest tenth as needed.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Q:

How much time will be needed for 21 000 to grow to 24 371 36 if deposited at 6 kt compounded quarterly For calculating use the formula A P 1 P 1 7 year s The amount 21 000 will grow to 24 371 36 in...

Q:

2.3 Savings Plans 1. Suppose you want to have $400,000 for retirement in 30 years. Your account earns 10% interest. How much would you need to deposit in the account each month? 2. You deposit $4000...

Q:

Recalculate in Research & Development Teamname: Andrews SimID: C121835_071 Round: 2 Year: 2022 Draft saved at Sep 21, 2020 04:17PM PDT Perceptual Map (at end of this year) Name Pfmn Size MTBF...

Q:

1. You deposit $100 each month for 35 years into an account earning 3% interest compounded monthly. Round to the nearest cent as needed. a) How much total money will you put into the account? b)How...

Q:

Hello, I need step by step the answer of question 2 and 3. Thank you Instructions for Case "Jaguar plc,** In July 1984, the British Government decided to privatize Jaguar plc. Jaguar sold over 50 %...

Q:

Using the Financial Management: Theory & Practice byEugene F. Brigham, Michael C. Ehrhardt 17th Edition| Copyright 2024 Answer the following: Textbook Assignments: Chapter 4 : Problems Part (not...

Q:

Brief Exercise 6-1 Leon Spear invested $16,800 today in a fund that earns 8% compounded annually. Click here to view factor tables To what amount will the investment grow in 3 years? To what amount...

Q:

Brief Exercise 6-1 Leon Spear invested $16,800 today in a fund that earns 8% compounded annually. Click here to view factor tables To what amount will the investment grow in 3 years? To what amount...

Q:

Brief Exercise 6-1 Leon Spear invested $16,800 today in a fund that earns 8% compounded annually. Click here to view factor tables To what amount will the investment grow in 3 years? To what amount...

Q:

Brief Exercise 6-1 Leon Spear invested $16,800 today in a fund that earns 8% compounded annually. Click here to view factor tables To what amount will the investment grow in 3 years? To what amount...

Q:

Find the transfer function C/R for the system using SFG. R R(s) G(s) Find the equivalent transfer function T(s) = C(s) / R(s) for the system shown. G(s) G3(s) 1 G4(s) 0.1 K G5(s)-G60 G7(s) C(s)

Q:

Primark Takes on Burberry and Alexander McQueen The clothing retailer Primark, a value range of products, would compete directly with designer labels such as Burberry and Alexander McQueen.50 Primark...

Q:

Evaluate the l i m i t . ( U s e symbolic notation and fractions where needed. ) lim x 7 x 2 + 3 x 8 x 2 - 1 0 =

Q:

Show the animation of standing wave resulted by the interference between wave A and B where, A = a x sin(wt kx), B = bx sin(wt + kx), and with following conditions. (iii) a = b (i) a b...

Q:

Design a 2nd order band pass filter with low cut-off frequency of 500HZ, high cut-off frequency of 10kHz and a passband gain of 5. Plot the frequency response of this filter and find the value of Q...

Q:

Derive the transfer characteristics of the circuit shown below and prove that it is a band pass filter. Design the filter for a center frequency (fo) and Q of, (a) 1KHZ and 1.42, (b) 1KHZ, 7.1 and...

Q:

A very common problem in instrumentation is that of interference of the telemetry that is to be measured. One of the primary sources of the interference is the power line. This is particularly true...

Q:

Tori and some other childeen experimented with balls to see which ones rolled. First using a piece of cardboard to use as a ramp, they angled it on a block to the floor to test the balls. Then Tori...

Q:

Identify and briefly describe the six steps in the risk management process.

Q:

Identify two common misconceptions about risk management, and explain why these misconceptions developed.

Q:

Distinguish among traditional risk management, financial risk management, and enterprise risk management.