account offering 4% per year, compounded semiannuall

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
Problem 25PS
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If $10,000 is invested in a savings account offering 4% per year, compounded semiannually, how fast is the balance growing after 3 years?

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