The compound interest on $ 30,000 at 7% per annum is $4347. The period (in years) is:
Pick one
A) 2  B) 21/2  C) 3  D) 4  E) 5
2mt = $(30000+4347)= 
<gadget id="calculator">(30000+4347)</gadget>
<output>34_347</output>
$34347   let the time be n yrs then 30000(1+7/100)^n=34347   (107/100)^n=34347/30000=(107/100)^2   n = 2 yrs   2NSWER 2
<result>A</result>
The compound interest on $ 30,000 at 7% per annum is $4347. The period (in years) is: