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-Find Out How Long It Takes A $3000\$ 3000 Investment to Earn

Question 276

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-Find out how long it takes a $3000\$ 3000 investment to earn $400\$ 400 interest if it is invested at 9%9 \% compounded semiannually. Round to the nearest tenth of a year. Use the formula A=P(1+rn) ntA = \mathrm { P } \left( 1 + \frac { \mathrm { r } } { \mathrm { n } } \right) ^ { n t } .


A) 1.61.6 years
B) 1.81.8 years
C) 1.21.2 years
D) 1.41.4 years

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