Greg deposited $4000 into an account with a 9.8% annual interest rate, compounded semiannually. Assuming that no withdrawals are
made, how long will it take for the investment to grow to $4616?
Do not round any intermediate computations, and round your answer to the nearest hundredth.
The number of years it would take $4000 to grow to $4616 is 2.92 years.
<h3>How many years would it take the investment to have a value of $4616?</h3>
When an amount earns compound interest compounded semi annually, it means that both the amount invested and the interest accrued increases in value twice yearly.
Step-by-step explanation: Since a triangle's area is b times h/2, we know that two times 48 is 96, therefore we can opposite the equation so 12 is the base times the height (8 cm) is 96 divided by 2, there's your answer.
