Asked by Tar
What initial investment at 9% compounded semiannually for 5 years will accumulate to $15,000?
Answers
Answered by
Damon
4.5 percent or ten periods
p (1.045)^10 = 15,000
p = 15,000/(1.045)^10
= 9658.92
p (1.045)^10 = 15,000
p = 15,000/(1.045)^10
= 9658.92
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