Sunday

January 25, 2015

January 25, 2015

Posted by **tania** on Thursday, June 28, 2012 at 1:43am.

- Math -
**Reiny**, Thursday, June 28, 2012 at 10:39am25000 = 15000(1.015)^n , where n is the number of quarter years

5/3 = 1.015^n

log both sides

log (5/3) = log (1.015^n)

log5 - log3 = n log 1.015

n = (log5 - log3)/log 1.015 = appr 34.3 quarters

or 11.4 years or 137 months

**Answer this Question**

**Related Questions**

finance - Today, Mark invested $5,000 into an account that guarantees 7.50% p.a...

finance - Today, Mark invested $5,000 into an account that guarantees 7.50% p.a...

College Algebra - Investment A: $5,000 invested for 7 years compounded ...

Math - A couple needs $15,000 as a down payment for a home. If they invest the $...

Finances and Math - Can someone please help me solve these problems or help me ...

Accounting - How do I calculate the future value of the following? $5,000 ...

math - Suppose 48,000 is invested at an interest rate of 4.2%, compounded ...

finance - $11,000, invested for 9 years at 3% compounded quarterly.

Math - What would be the amount of compound interest on $8,000 invested for one...

math - What would be the compounded interest on $8,000 invested for onr year AT ...