Recent content by mcbates

because the rate of interest in compounded semiannually

the only reason i was wondering was because if you set it up in the equation i gave you it would be (1+9.75/2)^2T,,,i think

okayyyy! Thanks! :smile:

where did you get 1.0975 from?

how does that end up being 2.3 years

i think you use the equation Ao(1+r/n)^nt: i think this one is it. or Ao e^rt (growth)

i am having problems figuring out how to find the answer to this problem: nancy wants to invest $4000 in saving certificates that bear an interest rate of 9.75% per yr, compound semiannually. how long a time period should she choose inorder to save an amt of $5000? the answer is...