Sandoval Watkins
11/08/2024 · Junior High School
How long will it take for \( \$ 9,200 \) to grow to \( \$ 36,600 \) at an interest rate of \( 10.8 \% \) if the interest is compounded quarterly? Round the number of years to the nearest hundredth. A. 37.33 yr B. 13.46 yr C. 12.96 yr D. 51.83 yr
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It will take approximately 12.87 years for \( \$9,200 \) to grow to \( \$36,600 \) at a 10.8% interest rate compounded quarterly. The closest answer is C. 12.96 yr.
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