Question: why the answer is 7? Solve the problem using graphical approximation techniques on a graphing calculator How long does it take for a $2,900 investment

why the answer is 7? why the answer is 7? Solve the problem using graphical approximation techniques

Solve the problem using graphical approximation techniques on a graphing calculator How long does it take for a $2,900 investment at 14% compounded quarterly to be worth more than a $3,300 investment at 6% compounded quarterly? ho Identify the formula required to solve this problem. A=P(1 + 1)", where i and A is the amount at the end of n periods, P is the principal value, r is the annual nominal rate, mis number of compounding periods per year, iis rate per compounding period, and n is total number of compounding periods B. AEP where A is the amount at the end of t years it is the principal invested at an annual rater compounded continuously OC. A = P(1 + rt), where A is the amount, Pis the principal, r is the annual simple interest rate, and t is the time in years OD 1= Prt, where is the interest, P is the principal, r is the annual simple interest rate, and t is the time in years It will take 7 quarters for a $2,900 investment at 14% compounded quarterly to be worth more than a $3,300 investment at 6% compounded quarterly (Round up to the nearest integer)

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