Question

Please help me with this math question

Answer 1

Answer:

5.50 years

Step-by-step explanation:

A = P$(1 + \frac{r}{n})^{nt}$

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

3178 = 2000(1+.086/2)^2t

t = 5.499904413