Question

Assignment Booklet 7 rks) 3. Trinh has decided to save money to buy a new computer. She invests $800 in an account that earns 5% per year, compounded quarterly. Determine how long she needs to invest her money to have $1000 by using the equation 1000 = 800(1.0125)$^n$, where n is measured in quarters of a year (three-month increments). NOTE: You may not use logarithms to solve this problem.

          Assignment Booklet 7
rks) 3. Trinh has decided to save money to buy a new computer. She invests $800 in an
account that earns 5% per year, compounded quarterly. Determine how long she needs
to invest her money to have $1000 by using the equation 1000 = 800(1.0125)$^n$, where n
is measured in quarters of a year (three-month increments). NOTE: You may not use
logarithms to solve this problem.