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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?
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
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