Respuesta :
The answer to this question would be: 17 years
The interest rate is 3.8% compounded twice a year. The function of the saving account amount would be:
f(x)= 4,790.23* (1+ 0.038/2)^2x
f(x)= 4,790.23* (1.019)^2x
Then for f(x)= 9,000 the x value would be:
9,000= 4,790.23* (1.019)^2x
9,000/4,790.23= (1.019)^2x
1.8788= (1.019)^2x
2x=34
x=17
The interest rate is 3.8% compounded twice a year. The function of the saving account amount would be:
f(x)= 4,790.23* (1+ 0.038/2)^2x
f(x)= 4,790.23* (1.019)^2x
Then for f(x)= 9,000 the x value would be:
9,000= 4,790.23* (1.019)^2x
9,000/4,790.23= (1.019)^2x
1.8788= (1.019)^2x
2x=34
x=17
