The value of the money will increase
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:
2) 6
4) 9
Step-by-step explanation:
Infinite solution Bc both sides are equal
