Answer:
d 9 years, 11 months
Step-by-step explanation:
Rachel deposited $5,960.32 into a savings account with an interest rate of 4.2% compounded twice a year.
P = $5,960.32
Rate = 4.2%
Number of years = x
Final amount=$9000
Number of times compounded= x/2
A= p(1+r/n)^(nt)
9000= 5960.32(1+(0.042*2)/x)^(x/2 *x)
9000= 5960.32(1+0.084/x)^x²/2
2(9000/5960.32)=(1+0.084/x)^x²
3.019972=((x+0.084)/x)^x²
On trial an error
The value of x is found to be approximately 9 year, 11 months
