7. Esther's grandparents made a one-time contribution to her education fund of $2250 in a guaranteed investment account that pays 4%/a, compounded semi-annually. If the investment is now worth $3343, algebraically determine the length of time that the money was invested for, to the nearest year.
7. Esther's grandparents made a one-time contribution to her education fund of $2250 in a guaranteed investment account that pays 4%/a, compounded semi-annually. If the investment is now worth $3343, algebraically determine the length of time that the money was invested for, to the nearest year.
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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Use this formal:
Y=ab^1/p
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