Suppose you invest $4,000 in an account that pays 8.25% interest per year, compounded quarterly. (a) Find the amount (in $) after 2 years. (Round your answer to the nearest cent.) $ 4688.19 (b) How long (in yr) will it take for the investment to triple? (Round your answer to two decimal places.) yr

Suppose you invest $4,000 in an account that pays 8.25% interest per year, compounded quarterly. (a) Find the amount (in $) after 2 years. (Round your answer to the nearest cent.) $ 4688.19 (b) How long (in yr) will it take for the investment to triple? (Round your answer to two decimal places.) yr

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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i need the answer quickly

Suppose you invest $4,000 in an account that pays 8.25% interest per year, compounded quarterly.
(a) Find the amount (in $) after 2 years. (Round your answer to the nearest cent.)
$ 4688.19
x
(b) How long (in yr) will it take for the investment to triple? (Round your answer to two decimal places.)
уг

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