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Use the Formula A A=P(1+rn)nt or A=Pert to solve. A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { or } A = P e ^ { r t } \text { to solve. }

Question 289

Multiple Choice

Use the formula A A=P(1+rn) nt or A=Pert to solve. A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { or } A = P e ^ { r t } \text { to solve. }
-How long it will take $4000 to grow to $6000 if the money is invested 4% interest compounded semiannually. Round to the nearest whole year.


A) 11 years
B) 1 year
C) 20 years
D) 10 years

Correct Answer:

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