demirjianchrista demirjianchrista

24-02-2021
Mathematics

contestada

If you deposit $5000 into an account paying 8.25% annual interest compounded
semiannually, how long until there is $9350 in the account?

Respuesta :

nmoore0409 nmoore0409

24-02-2021

Answer:

2 t

2 t

2 t

2 t

0.0825 9350 5000 1

2

9350 5000(1.04125)

1.87 1.04125

log(1.87) log(1.04125 )

log1.87 (2t)(log1.04125)

log1.87 2t

log1.04125

15.48512579 2t

t 7.7

Step-by-step explanation:

the answer is 7.7

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