Rudy Wants to Invest $\$ 1000$ In Savings Certificates That Bear an Interest Rate Of

question 16

Multiple Choice

Rudy wants to invest $\$ 1000$ in savings certificates that bear an interest rate of $7.5 \%$ compounded semiannually. How long will it take for the amount to be $\$ 1500 ?$

• A) \(2.54\) yrs
• B) \(3.08\) yrs
• C) \(5.51\) yrs
• D) \(9.25\) yrs
• E) \(10.36\) yrs 

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