math
posted by kerry .
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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