Mathematics, 27.12.2020 14:00 kadenreynolds5
The Johnson family wants to start a college fund for their daughter Gabriella. They put $63, 000 into an account that grows at a rate of 2.55% per year, compounded quarterly. Given the function G(t)= 63,000(1+ .0255/4)^ 4t, where G(t) represents the amount of money in the account t years after the account is opened, given that no more money is deposited into or withdrawn from the account. Calculate the number of years it will take for the account to reach approximately $150,000, to the nearest hundredth of a year.
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