Business, 04.02.2020 09:55 Valduarte07
Jacques deposited $1,900 into an account that earns 4% interest compounded semiannually. after t years, jacques has $3,875.79 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) = value of investment after t years
Answers: 1
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Jacques deposited $1,900 into an account that earns 4% interest compounded semiannually. after t yea...
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