If $6,000 Is Deposited at the End of Each Half

question 1

Multiple Choice

If $6,000 is deposited at the end of each half year in an account that earns an annual rate of 6.3% compounded semiannually, how long will it be before the account contains $170,000? Round your answer to two decimal places. ​

• A) 8.83 half years
• B) 51.19 half years
• C) 43.82 half years
• D) 34.25 half years
• E) 20.57 half years

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Definitions:

Tissue Fluids

Fluids that exist in the spaces between cells and tissues in the body, facilitating nutrient and waste exchange.

Small Molecules

Organic compounds with low molecular weight, often used in pharmacology for their ability to modulate biological processes at the molecular level.

Inorganic Matter

Materials and substances not derived from living organisms, often characterized by the absence of carbon-hydrogen bonds.

Thoracic

Pertaining to the chest or thorax area of the body, which houses the heart and lungs among other organs.