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In how many years will money quadruple at 8% compounded quarterly?

 Dec 7, 2018

Best Answer 

 #1
avatar+18521 
+2

4x = x (1+.02)^t           x can be any amount, so we'll leave it out.   I per period = 8/4 = .02% per quarter

      How many quarters? (t)

 

4 = (1.02)^t

log4/log1.02  = t  = 70   QUARTERS = 17.5 years  

 Dec 7, 2018
edited by Guest  Dec 7, 2018
 #1
avatar+18521 
+2
Best Answer

4x = x (1+.02)^t           x can be any amount, so we'll leave it out.   I per period = 8/4 = .02% per quarter

      How many quarters? (t)

 

4 = (1.02)^t

log4/log1.02  = t  = 70   QUARTERS = 17.5 years  

ElectricPavlov Dec 7, 2018
edited by Guest  Dec 7, 2018

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