Final answer:
The student wants to determine the time needed to save $2,305 through semi-annual deposits of $75 with an account earning 11% interest compounded semi-annually. The compound interest will affect the time required to reach the goal. However, the exact formula for an annuity is needed to solve this.
Step-by-step explanation:
The student is asking how long it will take to save $2,305 by making semi-annual deposits of $75 in an account with 11% interest compounded semi-annually. To solve this, we would use the formula for the future value of an annuity, which is not directly provided in the reference material.
However, understanding the power of compound interest is crucial, and we can see from the reference that compound interest can significantly increase savings over time. Since the exact formula for an annuity is not given in the examples, we cannot provide an accurate duration without it. In practice, the formula would tell us the number of periods needed to reach the given future value, taking into account the interest rate and deposit frequency.