Question: You currently have $8,300 (Present Value) in an account that has an interest rate of 7.5% peryear compounded quarterly ( 4 times per year). You want to withdraw all your money when itreaches $13,280 (Future Value). In how many years will you be able to withdraw all yourmoney?The number of years isRound your answer to 1 decimal place.

You currently have $$8,300($Present Value$)$ in an account that has an interest rate of $7\mathrm{.}5\%$ per

year compounded quarterly $(4$ times per year$).$ You want to withdraw all your money when it

reaches $$13,280($Future Value$).$ In how many years will you be able to withdraw all your

money?

The number of years is

Round your answer to $1$ decimal place.