Aperson invests 7500 dollars in a bank. the bank pays 6% interest compounded semi-annually. to the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 16200 dollars?

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above  

Apply log both sides

the answer is 15 to your question

if i did my math right then the answer should but 108