Question

P dollars is invested at annual interest rate r for 1year If the interest is compounded semiannually then the polynomial P(1+r/2)^2 represents the value of the investment after 1 year. rewrite the expressions without parentheses evaluate the polynomial if P=5670 and r=3.5%

Answer 1

5760(1+ .035/2)^2

5760(1 + 0.0175)^2

5760(1.0175)^2 = ?

Answer 2

5670(1+ .035/2)^2

5670(1 + 0.0175)^2

5670(1.0175)^2 = ?