Answer:
The investment will be worth $450 after 25.255 years which is about 25 years and 3 months.
Step-by-step explanation:
You have to use the following formula to calculate the number of years:
t=ln(A/P) / n(ln(1 + r/n)), where:
t=time in years
A=Accrued amount=450
P=Principal amount=100
n=number of compounding periods per time period=4
r=interest rate=0.06
Now, you can replace the values in the formula:
t=ln(450/100)/4(ln(1+(0.06/4)))
t=ln(4.5)/4(ln(1.015))
t=1.50/0.059
t=25.255
According to this, the answer is that the investment will be worth $450 after 25.255 years which is about 25 years and 3 months.
