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October 22, 2014

October 22, 2014

Posted by **Lex** on Monday, March 7, 2011 at 7:43pm.

- algebra -
**drwls**, Monday, March 7, 2011 at 7:52pmSolve this equation for the number of quarters, n.

[1 + (0.042/4)]^n = 2

1.0105^n = 2

n = 66.36

That many quarters is 16.58 years

You will have to wait for the first interest-paying date after 16.5 years.

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