Mathematics, 07.07.2021 05:50 GreenHerbz206
Hannah would like to make an investment that will turn 8000 dollars into 33000 dollars in 7 years. What quarterly rate of interest, compounded four times per year, must she receive to reach her goal?
Answers: 2
![33000=8000(1+\frac{i}{4})^{4*7}\\4.125=(1+\frac{i}{4})^{28}\\\sqrt[28]{4.125}=1+\frac{i}{4} \\i= .207648169](/tpl/images/2419/7567/51d92.png)
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Hannah would like to make an investment that will turn 8000 dollars into 33000 dollars in 7 years. W...
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