Lashonda needs $5164 for a future project. She can invest $4000 now at an annual rate of 9.4%, compounded quarterly. Assuming th

Question

3 years ago

10

Lashonda needs $5164 for a future project. She can invest $4000 now at an annual rate of 9.4%, compounded quarterly. Assuming th

at no withdrawals are
made, how long will it take for her to have enough money for her project?
Do not round any intermediate computations, and round your answer to the nearest hundredth.

Mathematics

1 answer:

iris [78.8K] · Answer 1 · 2022-06-12T16:40:32+03:00

iris [78.8K]3 years ago

6 0

the answer is at least 1.5 years long because he already has $4000 dollars with no withdrawals