Asked by Anonymous
How much down is needed to get to 25000 at 8 percent interest compounded semianually for 3 .5 years
Answers
Answered by
Kuai
A = p( 1 + r/n)^t*n
t = 3.5*2 = 7
r = 0.08/2 = 0.04
A = 25000( 1+ 0.04)^7
A = 25000( 1.04)^7
A = $32,898.29
t = 3.5*2 = 7
r = 0.08/2 = 0.04
A = 25000( 1+ 0.04)^7
A = 25000( 1.04)^7
A = $32,898.29
Answered by
Henry
P = Po(1+r)^n
P = $25,000
Po = ? = Initial principal.
r = (8%/2)/100% = 0.04 = Semi-annual %
rate expressed as a decimal.
n = 2Comp./yr. * 3.5yrs. = 7 Compounding
periods.
P = Po(1.04)^7 = 25,000
Po = 25,000/1.04^7 = $18,997.95 Down.
P = $25,000
Po = ? = Initial principal.
r = (8%/2)/100% = 0.04 = Semi-annual %
rate expressed as a decimal.
n = 2Comp./yr. * 3.5yrs. = 7 Compounding
periods.
P = Po(1.04)^7 = 25,000
Po = 25,000/1.04^7 = $18,997.95 Down.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.