If $21.000 is invested in a savings account offering 4.5% per vear, compounded semiannually, how fast (in dollars/yr) is the balance growing after 4 vears? (Round your answer to the nearest cer

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
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If $21,000 is invested in a savings account offering 4.5% per year, compounded semiannually, how fast (in dollars/yr) is the balance growing after 4 years? (Round your answer to the nearest cent.)
Transcribed Image Text:If $21,000 is invested in a savings account offering 4.5% per year, compounded semiannually, how fast (in dollars/yr) is the balance growing after 4 years? (Round your answer to the nearest cent.)
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