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:
= 233.75
Step-by-step explanation:
To find the discount, we multiply the original price by the percent off
discount = 275* .15
= 41.25
To get the sale price, take the original price and subtract the discount
sale price = 275-41.25
= 233.75