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telo118 [61]
3 years ago
7

How much time will be needed for 35,000 to grow to 44,622.09 if deposited at 7% compounded quarterly

Business
1 answer:
Vlad [161]3 years ago
8 0

Answer:

It will take 14 quarters (3.5 years) to reach $44,622.09 from $35,000 at an interest rate of 7% compounded quarterly.

Explanation:

Giving the following information:

PV= 35,000

FV= 44,622.09

i= 0.07/4= 0.0175

We need to calculate the number of quarters required to reach the objective. We will use the following formula:

n= ln(FV/PV) / ln(1+i)

n= ln(44,622.09/35,000) / ln(1.0175)

n= 14

It will take 14 quarters (3.5 years) to reach $44,622.09 from $35,000 at an interest rate of 7% compounded quarterly.

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7 0
3 years ago
Compute the Z-scores for the second observation of the following data values: X: 462 490 350 294 574
skelet666 [1.2K]

Answer:

0.5

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Zscore = (x - mean) / standard deviation

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X : 462 490 350 294 574

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2 years ago
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Answer:

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