Asked by kebe
In order to have $10000.00 in 5 years, how much would a person have to invest if the money will earn 8% interest compounded semiannually?
Answers
Answered by
Damon
multiply principal by 1.04 10 times
1.04^10 = 1.48
1.48 P = 10,000
P = $6755.64
1.04^10 = 1.48
1.48 P = 10,000
P = $6755.64
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