Solve the Problem $\$ 2700$ Investment to Earn $\$ 300$ Interest If It Is Invested At

question 122

Multiple Choice

Solve the problem.
-Find out how long it takes a $\$ 2700$ investment to earn $\$ 300$ interest if it is invested at $7 \%$ compounded quarterly. Round to the nearest tenth of a year. Use the formula $\mathrm { A } = \mathrm { P } \left( 1 + \frac { \mathrm { r } } { \mathrm { n } } \right) ^ { \mathrm { n } t }$ .

• A) \(1.5\) years
• B) \(1.7\) years
• C) \(1.3\) years
• D) \(1.9\) years

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