Question: Using either logarithms or graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $8000, deposited

Using either logarithms or 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 least $9000

The time required is ____ year(s). (Type an integer or decimal rounded to the nearest hundredth as needed).

DO NOT COPY FROM CHEGG I NEED A FULL EXPLANATION

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 graphingcalculator, find the time required for the initial amount to be at least equal to the final amount. $7400, deposited at 3.6 % compounded monthly, to reach at...

Using either logarithms or a graphingcalculator, find the time required for the initial amount to be at least equal to the final amount. $4600, deposited at 8.9compounded monthly, to reach at least...

5.1.41 Using either logarithms or grabbing calculated on the timer five for the initial amount to be at least equal to the final amount. Using either logarithms or a graphing calculator, find the...

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...

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...

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. $3000, 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...

QUESTION 15 Using either logarithms or a graphing calculator, find the time required for the initial amount to be at least equal to the final amount. $7000 deposited at 3% compounded quarterly, to...

You own $100,000 worth of Smart Money stock. One year from now, you will receive a dividend of $2.25 per share. You will receive a $2.40 dividend two years from now. You will sell the stock for $65...

Verify that Eq. 39-44, the radial probability density for the ground state of the hydrogen atom, is normalized. That is, verify that istrue. P(r) dr = 1

Normally one of the first documents to be signed, an NDA determines what confidential information, if any, is or is not to be disclosed to parties outside of the agreement. Examples of information...

Which of the following parties are participants in the foreign exchange market? I. U.S. importers II. U.S. exporters III. U.S. travelers to Europe IV. Foreign portfolio managers who purchase American...