Solve the Problem $7.2 \mathrm { yr }$ B) $8.8 \mathrm { yr }$

question 204

Multiple Choice

Solve the problem.
-Find the number of years for $8400 to grow to $12,900 at 6% compounded semiannually. Round to the nearest tenth of a year.

• A) \(7.2 \mathrm { yr }\)
• B) \(8.8 \mathrm { yr }\)
• C) \(6.4 \mathrm { yr }\)
• D) \(7.3 \mathrm { yr }\)

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Definitions:

Capital Contributions

The value of assets contributed to a company by its owners or shareholders.