document.write( "Question 1175334: How long will it take 1,000.00 to earn 300.00 if the interest is 12% compounded semi-annually? \n" ); document.write( "

Algebra.Com's Answer #800954 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

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document.write( "Hi\r\n" );
document.write( " In General \r\n" );
document.write( "A = Accumulated Amount $1300\r\n" );
document.write( "P= principal = $1000\r\n" );
document.write( "r= annual rate = .12\r\n" );
document.write( "n= periods per year = 2\r\n" );
document.write( "t= years =\r\n" );
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document.write( "Question States\r\n" );
document.write( "(1.06)^2t = 1300/1000\r\n" );
document.write( "solving for t:\r\n" );
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document.write( "            2t =      \r\n" );
document.write( "            2t = 4.50\r\n" );
document.write( "             t = 2.25 yrs  0r 2years and 3mos.\r\n" );
document.write( "Answer Can be verified with any of the online compound interest calculators.           \r\n" );
document.write( "Wish You the Best in your Studies.\r\n" );
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