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.
Number of years = (In FV / PV) / r
- r = 9.8/2 = 4.90%
- FV = future value = 4616
- PV = present value = 4000
(In 4616 / 4000) / 0.049 = 2.92 years
Answer:
c
Step-by-step explanation:
Answer: D=22
Step-by-step explanation:
this is because if multiply f by r you get D and then you do all the other rmathematics and you wind up with 22
Answer: .0142%
Step-by-step explanation:
