Use the Formula A $$A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { or } A = P e ^ { r t } \text { to solve. }$$

question 34

Multiple Choice

Use the formula A $$A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { or } A = P e ^ { r t } \text { to solve. }$$
-How long it will take $4000 to grow to $6000 if the money is invested 4% interest compounded semiannually. Round to the nearest whole year.

• A) 11 years
• B) 1 year
• C) 20 years
• D) 10 years

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