Answer: 7 years
Step-by-step explanation:
From the formula A = P(1+(r/100))^t we have
5089.12 = 4000 (1+(3.5/100))^t
=> 1.27228 = (1.035)^t
Using calculator we find that 1.035^7 gives 1.272279
Hence in 7 years $4000 will grow to $5089.12 if it’s invested at 3.5%
