What initial investment at 7 percent compounded semi-annually for 7 years will accumulate to $9,000? Round answer to two decimal places.?
回答 (3)
2015-12-08 4:38 am
✔ 最佳答案
9000 = P(1 + .07/2)^(2 * 7)9000 = P * 1.035^14
9000 / 1.035^14 = P
5560.036112490051793640948910059 = P
$5,560.04
2015-12-08 4:23 am
hint:
use the compound interest formula:
A=P(1+i/n)^(nt)
where n=number of times per year interest is compounded.
t=number of years
i=interest (decimal)
P=initial investment
A=future value.
use the compound interest formula:
A=P(1+i/n)^(nt)
where n=number of times per year interest is compounded.
t=number of years
i=interest (decimal)
P=initial investment
A=future value.
2015-12-08 4:50 am
P*1.07^7 = 9000
P = 9000/1.07^7 = $5604.75
P = 9000/1.07^7 = $5604.75
收錄日期: 2021-04-18 14:08:44
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