Jacques deposited $1,900 into an account that earns 4% interest compounded semiannually. After t years, Jacques has $3,875. 79 i
n the account. Assuming he made no additional deposits or withdrawals, how long was the money in the account?.
1 answer:
Answer:
T=50.99
Step-by-step explanation:
Given:
I=3,875.78
P=1,900
R=4% I.e 4/100 , 0.04
T=?
I=PRT
3,875.79=($1,900)(0.04)t
3,875.79=76t
3,875.79/76= t
T=50.99
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