Shawnee is putting $3,500 into an account earning 4.85% interest compounded quarterly. she estimates that it will take just over 11 years for this investment to grow to $6,000. which of the following is a true statement? a. shawnee’s estimate of the time is too low. b. shawnee’s estimate of the time is correct. c. shawnee’s estimate of the time is too high. d. shawnee does not have enough information to estimate the time.

b. Shawnee’s estimate of the time is correct

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

Part a)

in this problem we have  

substitute in the formula above

Part b)

in this problem we have  

substitute in the formula above

therefore

Shawnee’s estimate of the time is correct

  the correct choice is marked

step-by-step explanation:

the first two graphs show multiple turning points. the last graphs matches the description in every detail.

step-by-step explanation: