QuestionFind the time for a \$2500 investment at 2.8\% interest, compounded quarterly, to grow to \$4000. Round to the nearest hundredth.

Studdy Solution
After calculation, we find that it will take approximately16.61 years for the investment to grow to $4,000.
So, Frank has to wait for about16.61 years to see his investment grow to $4,000.