If $450 Is Deposited in an Account Paying 8

question 123

Short Answer

If $450 is deposited in an account paying 8.6% annual interest, compounded semiannually, how long will it take for the account to increase to $800?
Please round the answer to the nearest tenth.

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Definitions:

Urine Formation

The process of filtering blood and removing waste products and excess substances to produce urine.

Nephridium

Of some invertebrates, an organ that takes up body fluid and expels excess water and solutes through a pore at the body surface.

Flatworms

These are a group of invertebrate animals belonging to the phylum Platyhelminthes, known for their flat, bilateral bodies and lack of body cavity.

Excess Water

A surplus amount of water in an area or system, which can result from heavy rainfall, flooding, or inadequate drainage.