You expect to receive $3,100 upon your graduation and will invest your windfall at an interest rate of .43 percent per quarter until the account is worth $4,750. How many years do you have to wait until you reach your target account value?

(A) 25.02 years
(B) 26.78 years
(C) 21.76 years
(D) 24.86 years
(E) 23.21 years

correct option is (D) 24.86 years

Explanation:

given data

present value = $3100

future value =  $4,750

interest rate = 0.43 % = 0.0043

solution

we get here time period that is express by future value formula that is

future value = present value ×  ....................1

put here value and we get

$4,750  = $3100  ×  

1.5322 =  

take ln both side we get

ln (1.5322) = t × ln(1.0043)

0.4267 = t × 4.2907 ×  

t = 99.4476 quarters

so time in years will be

time =    

time = 24.86 years

so correct option is (D) 24.86 years

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.

answer; ///i believe the correct   answer is (e) transformational;