How long will it take 1,000 to amount to 1,346.00 ifinvested in 6% compounded quarterly?

How long will it take 1,000 to amount to 1,346.00 if invested in 6% compounded quarterly?

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Expert Solution

Question:- How long will it take 1,000 to amount to 1,346.00 if invested in 6% compounded quarterly?

Ans :- 5 years (approximately)

Calculation:-

Given :- principal investment :- 1000

rate of interest :- 6% or 0.06

Accumulated amount :- 1346.00

Rahul Sunny answered 1 year ago

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