Two business partners agree to invest equal amounts in their business. One partner contributes $10,000 immediately. The other plans to contribute the amount she earns by investing $8500 into an account earning 6% interest compounding semi-annually. After how much time will both partners have contributed the same amount?

In other words, when will the account described reach a value of $10,000? (The answer is about 2.75 years. Make sure you can get this answer. Show your work in the space below.)

Answer rating: 100% (QA)

Let t be the number of years the second partner needs to in... View the full answer