cmjohnson4021 cmjohnson4021

19-03-2022
Mathematics

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A person invests $350 in an account that earns 3.65% annual interest compounded
semiannually. Find when the value of the investment reaches $5675.

Respuesta :

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19-03-2022

M = C(1+r)^t

5675 = 350(1+0.0365/2)^t

5675=350×1.01825^t

t = 154.04

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