Joseph invested $6,700 in an account paying an interest rate of 5.2% compounded quarterly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $13,950?

Step-by-step explanation:

A=P(1+r/c)^(ct), where a is final value, P is the initial value or principle, r is the interest rate, and c is the number of compounding periods in a year.

ln(A/P)/ln(1+r/c)=ct so

t =(ln(A/P)/(cln(1+r/c)), given A=13950, P=6700, r=0.052, c=4

t=(ln(13950/6700))/(4ln(1.013))

t=14 years

answer: 1,380

step-by-step explanation:

1: you turn %15 into a decimal by moving the decimal point two places to the left.

2: and then you multiply .15 by 1,200 , which will get you 180.00

3: from there you will add 180 to 1,200

4: which will get you 1,380

hope it *im kind of slow so idk if my answer is right*

faster, im not sure why but i know it is faster