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22 January, 07:04

How many years ago was $5000 invested in an account paying 8% annual interest compounded quarterly, if the amount presently in the account is $11 500

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  1. 22 January, 07:11
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    T = (log (11,500:5,000) : log (1+0.08:4)) / 4

    T=10.52 years
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