A person invests 3000 dollars in a bank. The bank pays 5% 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 5200 dollars?

11.25  years

Step-by-step explanation:

Given data

P=3000

R= 5%

A=5200

simple interest formula is

A=P(1+r)^t

t = ln(A/P) / ln(1 + r)

t= ln(5200/3000)/ln(1+0.05)

t=ln(1.73)/ln(1.05)

t=0.54/0.048

t=11.25  years

step-by-step explanation:

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