Posted by kerry on Monday, October 24, 2011 at 4:13pm.
how long will it take $5000 to grow to$8000 if it is invested at 5% compounded quarterly?

math  Steve, Monday, October 24, 2011 at 5:11pm
5000(1+.05/4)^q = 8000
1.0125^q = 1.6
q = ln 1.6 / ln 1.0125
q = 37.8
or
38 quarters = 9.5 years