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.
