Respuesta :

abiolataiwo2015

Based on the information how long did it take to reach $10650 is 7years.

Given:

Principal=$7,500

Rate=6%

Amount=$10650

Time=?

Simple Interest(SI)=A-P

=$10650-$7500

=$3150

Time=(100×SI)/(p×r)

T=(100×3150)/(7500×6)

T=315,000/45,000

T=7 years

Inconclusion how long did it take to reach $10650 is 7years.

Learn more here:

https://brainly.com/question/15610358

anthougo

The period it took the $7,500 investment to reach a future value of $10,650 at a compounding interest rate of 6% is 6 years.

What is the future value?

The future value refers to the compounded value of present cash flows in the future, using an interest rate.

The future value can be determined using the future value table or formula.

We can also determine the future value using an online finance calculator, which also enables us to determine the period required to get a stated future value.

Data and Calculations:

PV (Present Value) = $7,500

I/Y (Interest per year) = 6%

PMT (Periodic Payment) = $0

FV (Future Value) = $10,650

Results:

N (# of periods) = 6 years

Total Interest = $3,142.17

Thus, the period it took the $7,500 investment to reach a future value of $10,650 at a compounding interest rate of 6% is 6 years.

Learn more about future values and periods at https://brainly.com/question/12890404 and https://brainly.com/question/20392017

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