If you invest $5000 at 4% compounded semiannually, how long will it take for your investment to grow to $8,000. (in complete years)
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Tushar Chandra
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If an amount P is invested for n terms at a rate of interest of r, it grows to P*(1 + r)^n.
Here, the annual rate of interest is 4%, as the compounding is done...
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