Solve
-Find Out How Long It Takes A $\$ 2900$ Investment to Earn

question 216

Multiple Choice

Solve.
-Find out how long it takes a $\$ 2900$ investment to earn $\$ 400$ interest if it is invested at $7 \%$ compounded semiannually. Round to the nearest tenth of a year. Use the formula $A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$ .

• A) \(2.1\) years
• B) \(1.7\) years
• C) \(1.9\) years
• D) \(2.3\) years

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