A person invests 4500 dollars in a bank. The bank pays 4.75% interest compounded semi-annually. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 5900 dollars? A = P(1+ -)nt

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
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A person invests 4500 dollars in a bank. The bank pays 4.75% interest compounded
semi-annually. To the nearest tenth of a year, how long must the person leave the
money in the bank until it reaches 5900 collars?
A = P(1+-)"t
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Transcribed Image Text:A person invests 4500 dollars in a bank. The bank pays 4.75% interest compounded semi-annually. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 5900 collars? A = P(1+-)"t Answer: Submit Answer attempt 1 out of 2 Type here to search DI
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