Question
Find out how long it takes for a $3400 investment to earn $400 interest if it is invested at 9% compounded semiannually. Round to the
Find out how long it takes for a $3400 investment to earn $400 interest if it is invested at 9% compounded semiannually. Round to the nearest tenth of a year. Use the formula A=P(1+r/n) to the power of nt. The answer is 1.3 years. How did they get that answer?
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An Introduction to Analysis
Authors: William R. Wade
4th edition
132296381, 978-0132296380
