A person invests 3500 dollars in a bank. The bank pays 6.75% interest compounded

quarterly. To the nearest tenth of a year, how long must the person leave the money

in the bank until it reaches 8500 dollars?

nt

A = P(1+2) “²

quarterly. To the nearest tenth of a year, how long must the person leave the money

in the bank until it reaches 8500 dollars?

nt

A = P(1+2) “²

periodof53 quarters (13 years)to reach afuture valueof $8,500.## What is the future value?

future valueis the product of thecompounded present valueat an interest rate for some periods.Compoundinginvolves charging interest on the accumulated interest and principal, unlike thesimple interestsystem.future values, we can determine the period from an online finance calculator as follows:Results:N(# of periods) = 53.02353 quarters (13 years)to accumulate afuture valueof $8,500.the future value and periodat https://brainly.com/question/24082113