Question

Please help me with this math question

Answer 1

5.50 years

Explanation:

A = P
`(1 + (r)/(n))^(nt)`

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

3178 = 2000(1+.086/2)^2t

t = 5.499904413