(Solving
for n with​ non-annual
periods​)
Approximately how many years would it take for an investment to grow
fourfold
if it were invested at
11
percent compounded
semiannually​?
Assume that you invest
​$1
today.
Question content area bottom
Part 1
If you invest
​$1
at
11
percent compounded
semiannually​,
about how many years would it take for your investment to grow
fourfold
to
​$4​?
​(Hint​:
Remember to convert your calculator solution to​ years.)
enter your response here
years ​(Round to one decimal​ place.)