Mathematics, 16.04.2020 19:31 KeyesRaveen

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Jacquees deposited $1900 into an account that earns 4% interest compounded semiannually. After T years, Jacquees has $3875.79 in the account. Assuming he made no additional deposits or withdrawals, how long was the money in the account?

Compound interest formula: v(t)=p(1+r/n)^nt

T= years since initial deposit
N= Number of times compounded per year
R= annual interest rate (as a decimal )
P= initial (principal) investment
V(t)= The value of investment after T years

- 2 years
-9 years
-18 years
-36 years

Answers: 3

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