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24 May, 23:08

If Jim invests $1000, how many years will it take for him

to have $3000 given 8% interest compounded

quarterly? (round to 1 decimal place.)

+5
Answers (1)
  1. 24 May, 23:17
    0
    14.3

    Step-by-step explanation:

    1000 * (1.08) ^y = 3000 where y is the no of years

    y=log1.08 (3)
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