Justin invested $7,300 in an account paying an interest rate of 1.5% compounded quarterly. Assuming no deposits or withdrawals are made, how long would it take, to
the nearest tenth of a year, for the value of the account to reach $8,560?

10.7 years.

Step-by-step explanation:

7,300 * (1 + 0.015)^x = 8,560 <=>

7,300 * 1.015^x = 8,560 <=>

1.015^x = 8,560 / 7,300 <=>

1.015^x = 1.1726 <=>

x = 10.694

To the nearest tenth:

x = 10.7 years

example 2 – simplify: step 1: completely factor both the numerators and denominators of all fractions. step 2: change the division sign to a multiplication sign and flip (or reciprocate) the fraction after the division sign; essential you need to multiply by the reciprocal. step 3 : cancel or reduce the fractions.

37/3

step-by-step explanation:

step 1: simplify both sides of the equation.

7x+8(x+

1

4

)=3(6x−9)−8

7x+(8)(x)+(8)(

1

4

)=(3)(6x)+(3)(−9)+−8(distribute)

7x+8x+2=18x+−27+−8

(7x+8x)+(2)=(18x)+(−27+−8)(combine like terms)

15x+2=18x+−35

15x+2=18x−35

tep 2: subtract 18x from both sides.

15x+2−18x=18x−35−18x

−3x+2=−35

step 3: subtract 2 from both sides.

−3x+2−2=−35−2

−3x=−37

step 4: divide both sides by -3.

−3x

−3

=

−37

−3

x=

37

3