Answer
$$t=1.3 \ years$$
Work Step by Step
We now consider a 1500 dollar investment with 10 percent interest compounded semi annually.
$$1700=1500(1+(.1/2))^{2t}$$
This gives:
$$2t=log_{1.05}(17/15)$$
$$t=1.3 \ years$$
Intermediate Algebra (6th Edition)
by Martin-Gay, Elayn
Published by
Pearson
ISBN 10:
0321785045
ISBN 13:
978-0-32178-504-6
Chapter 9 - Section 9.8 - Exponential and Logarithmic Equations and Problem Solving - Exercise Set - Page 591: 48
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