How long it takes an invesment of $12,000 to grow to $16,500 invested in account pays 4.8% ? A(t)=P(1+r/n)^nt?

Answer 1

you need to know how often it is compounded first (n)

Answer 2

basically the 4500 increase is .375% of the original 12000 now to get to that amout using 4.8 per year it is not quite 8 years and if it took 7 to get that difference that might be a little surprising. it is just using a little bit of simple division to give estimate other than that I can't solve it going backwards using log and stuff.

Answer 3

12,000*(1.048)^n = 16,500

8*(1.048)^n = 11

n = log(base 1.048) 11/8

Now get a calculator...