Roberta deposited $4,790.23 into a savings account with an interest rate of 3.8% compounded twice a year. About how long will it take for the account to be worth $9,000?

Question

anonymous · Answer

Well You can use the PRT=I
P=4,790.23
R=3.8% or .038
T= .5 

4,790.23(.038)(.5)=91.01
Find the new balance after 6 months.
4,790.23+91.01=4881.24 <-- New balance after 6 months.
Then repeat PRT for the new 6 months. You can then calculate how long.

anonymous · Answer

Just continue the same process until you are closest to 9,000 and you can say it will approximately (insert time you found here) long to reach $9,000.

anonymous · Answer

a. 16 years, 9 months
b. 24 years, 8 months
c. 29 years, 2 months
d. 33 years, 6 months 
sorry but i can't do that possibly 33 times >_<

anonymous · Answer

Is their a simpler way to calculate it?

anonymous · Answer

youll only have to do it about 16.5 times xD

anonymous · Answer

but sadly no i dont know any other way to do it