Question: - 1 : - 1 - Section 5.4 - Exponential and Logarithmic Equations Score: 30/35 30/35 answered Question 31 The compound interest formula is given

- 1 : - 1 - Section 5.4 - Exponential and Logarithmic Equations Score: 30/35 30/35 answered Question 31 The compound interest formula is given by A - P(14 nt where A is the accumulated amount, after an initial investment of P dollars is invested for t years, at annual interest rate r, compounded n times per year. Use the formula above to determine how long it will take an initial investment of $5, 500 to grow to $24,200, if the account earns 14.8% interest per year, compounded semi-annually. Round the solution to two decimal places. The account balance will reach $24,200 after years. Question Help: Video Submit Question 81.F SOS 1994 15 G Mostly cloudy

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