Rachel deposited $5,960.32 into a savings account with an interest rate of 4.2% compounded twice a year. about how long will it take for the account to be worth $9,000? (3 points) select one: a. 21 years, 1 month b. 18 years, 0 months c. 19 years, 10 months d. 9 years, 11 months

9 years , 11 months

Step-by-step explanation:

Rachel deposited $5,960.32 into a savings account with an interest rate of 4.2% compounded twice a year

Apply compound interest formula

Where  P is the initial amount=$5,960.32

'r' is the rate of interest=4.2%=0.042

'n' is the compounding period=2

t is number of years

A is the amount after t years= 9000

Plug in all the values in the formula

Divide both sides by 5960.32

Take ln on both sides

Now divide both sides by ln(1.021)

19.82916538=2t

Divide both sides by 2

t=9.91458

1 year = 12 months

0.91458 times 12 = 11

So 9 years , 11 months

b

step-by-step explanation: