Answer:
10.1 years.
Step-by-step explanation:
It is given that,
Principal = 9000
Rate of interest = 5%
No. of times interest compounded = 2 times in an year
Amount after certain time = 14800
The formula for amount:
where, P is principal, r is rate of interest, n is no. of times interest compounded in an year and t is time in years.
Substitute the given values in the above formula.
Taking log both sides.
Therefore, the required time is 10.1 years.
