Jacques deposited $1,900 into an account that earns 4% interest compounded semiannually. After t years, Jacques has $3,875.79 in

Question

3 years ago

7

Jacques deposited $1,900 into an account that earns 4% interest compounded semiannually. After t years, Jacques has $3,875.79 in

the account. Assuming he made no additional deposits or withdrawals, how long was the money in the account? Compound interest formula:mc007-1.jpg t = years since initial deposit n = number of times compounded per year r = annual interest rate (as a decimal) P = initial (principal) investment V(t) = value of investment after t years

Mathematics

2 answers:

Ann [662] · Answer 1 · 2022-06-14T20:10:54+03:00

Ann [662]3 years ago

7 0

The answer is 456.00

melisa1 [442] · Answer 2 · 2022-06-14T21:27:34+03:00

melisa1 [442]3 years ago

7 0

The answer is ABOUT 18 years