Nancy wants to invest $3000 in saving certificates that bear an interest rate of 7.75% per year, compounded semiannually. How long a time period should she choose to save an amount of $4000? (Round your answer to two decimal places.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 8CYU
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Nancy wants to invest $3000 in saving certificates that bear an interest rate of 7.75% per year, compounded semiannually. How long a time period should she choose to save an amount of $4000?
(Round your answer to two decimal places.)
yr
Transcribed Image Text:Nancy wants to invest $3000 in saving certificates that bear an interest rate of 7.75% per year, compounded semiannually. How long a time period should she choose to save an amount of $4000? (Round your answer to two decimal places.) yr
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