A certain investment grows at an annual interest rate of 8%, compounded quarterly. Which of the following equations can be solved to find the number of years, x, that it would take for the investment to increase by a factor of 16?
a. 16 = (1.02)^x/4
b.2 = (1.02)^x
c.16 = (1.08)^4x
d.2 = (1.02)^x/4
e.1/16 = (1.02)^4x
qa isa
THis can be done by using the formula but its pretty time consuming and a lot of room for error. IS there an easier safer way to do this?
a. 16 = (1.02)^x/4
b.2 = (1.02)^x
c.16 = (1.08)^4x
d.2 = (1.02)^x/4
e.1/16 = (1.02)^4x
qa isa
THis can be done by using the formula but its pretty time consuming and a lot of room for error. IS there an easier safer way to do this?
Appetite for 700 and I scraped my plate!
