en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular >

How long will it take for a 5000 investment to grow to 7945 at an annual rate of 8.6% compounded semiannually?

Solution

How long will it take for a 5000 investment to grow to 7945 at an annual rate of 8.6% compounded semiannually?

Solution

Time : 5.5

Solution steps

Translate the problem into an equation:

7945 = 5000 (1 + \frac{0.086}{2})^{2 t}

Solve for

t, 7945 = 5000 (1 + \frac{0.086}{2})^{2 t} : t = 5.5

Time : 5.5

Popular Examples

What is the interest of 0.9 dollars if invested at 2.25% compound annually in 1000 years?6 years ago, the age of Jem was thrice the age of Min. The sum of their present ages is 36. Find the age of Jem, 7 years from now Kim’s father is now 2 1/2 as old a kim. ten years ago he was 4 times as old as kim I am 24 years old. I am 3 years older than Ana.At present, a man is four times as old as his son. Six years ago, he was thirteen times as old ashis son. How old was the man when his son was born?