Question: Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $3000,

Using either logarithms or a graphing calculator, find the time required

Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $3000, deposited at 6% compounded quarterly, to reach at least $4000 The time required is year(s). (Type an integer or decimal rounded to the nearest hundredth 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 Finance Questions!

Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $8000, deposited at 8% compounded quarterly, to reach at...

Find the interest rate for each deposit and compound amount. 8) $8400 accumulating to $9953.57, compounded monthly for 4 years. Objective: (5.1) Find Compound Interest Rate Find the effective rate...

17.) which of the following investments is larger? a.)$15,000 is deposited annually for 10 years and earns 4% interest compounded annually. b.) $500 is deposited monthly for 20 years and earns 4%...

Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $3000, deposited at 8% compounded quarterly, to reach at...

Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $4000, deposited at 5% compounded quarterly, to reach at...

Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $4000, deposited at 6% compounded quarterly, to reach at...

Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $4000, deposited at 9% compounded quarterly, to reach at...

Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $5000, deposited at 9% compounded quarterly, to reach at...

Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $8000, deposited at 7% compounded quarterly, to reach at...

Larry Whitney is general manager of Moonwalk Salons. During 2024, Whitney worked for the company all year at a $12,400 monthly salary. He also earned a year-end bonus equal to 20% of his annual...

A jet of water impinges on a series of curved vanes at an angle of 30 to the direction of motion of the vanes while entering and leaves the vanes horizontally. The head under which the jet issues...

What is the value of General Dynamics equity in 2 0 1 2 ? Group of answer choices $ 1 1 , 2 4 9 , 4 4 0 $ 1 2 , 2 6 7 , 5 4 5 $ 1 0 , 5 4 3 , 4 4 0 $ 1 1 , 5 6 2 , 5 4 5

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

Compare written and oral messages on the factors listed below.Which type of message earns the higher rating? Why? (Objective 1) a. Ability to be edited b. Permanence c. Tone d. Feedback

Select simple words. Use an online dictionary or word processing thesaurus to select simple, more understandable words to replace these difficult words: (a) mesmerize, (b) exemplary, (c) garner, (d)...

Discuss why and how unbiased language should be used in business messages. (Objective 4)