Suppose that $6000 is placed in a savings account at an annual rate of 8.6%, compounded semiannually. Assuming that no withdrawals are made, how long will it take for the account to grow to $9534? Do not round any intermediate computations, and round your answer to the nearest hundredth.
Suppose that $6000 is placed in a savings account at an annual rate of 8.6%, compounded semiannually. Assuming that no withdrawals are made, how long will it take for the account to grow to $9534? Do not round any intermediate computations, and round your answer to the nearest hundredth.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Suppose that $6000 is placed in a savings account at an annual rate of 8.6%, compounded semiannually. Assuming that no withdrawals are made, how long will it take for the account to grow to $9534?
Do not round any intermediate computations, and round your answer to the nearest hundredth.
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