se $900 is invested at 11% per year, compounded se ment is if it accumlates to the following amounts. R- t accumulates to $1,381.22 after being invested t accumulates to $1,537.33 after being invested

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
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Suppose $900 is invested at 11% per year, compounded semi-annually. Determine how long the time of
investment is if it accumlates to the following amounts. Round your answers to the nearest year.
a. It accumulates to $1,381.22 after being invested
years.
b. It accumulates to $1,537.33 after being invested
years.
Transcribed Image Text:Suppose $900 is invested at 11% per year, compounded semi-annually. Determine how long the time of investment is if it accumlates to the following amounts. Round your answers to the nearest year. a. It accumulates to $1,381.22 after being invested years. b. It accumulates to $1,537.33 after being invested years.
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