Lucy deposited $62500 in an investment fund that provided 8 percent annual return compounded quarterly. If she made no other transactions with the fund, in how much time, in months, did her investment earn a total interest of $5100?
Pick one
A) 0.5 B) 24 C) 93 D) 63 E) 6.1
A = P + I = 62500 + 5100= 
<gadget id="calculator">62500 + 5100</gadget>
<output>67_600</output>
67600   67600= 62500(1 + 8/4*100)^(4t)   (676/625) = (102/100)^(4t)   t =7 7/9 yrs = 93 months   Answer: 93
<result>C</result>
Lucy deposited $62500 in an investment fund that provided 8 percent annual return compounded quarterly. If she made no other transactions with the fund, in how much time, in months, did her investment earn a total interest of $5100?