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alisha [4.7K]
3 years ago
11

An investment company pays 9​% compounded semiannually. You want to have $ 19,000 in 10 years

Mathematics
1 answer:
sertanlavr [38]3 years ago
7 0

Answer:The question is incomplete.; This is the complete question.

An investment company pays 9​% compounded semiannually. You want to have $ 19,000 in the future, how much should you deposit now to have that amount 5 years from now.

Answer.

The amount he should deposit now to have that amount in 5 years is $8,025.80

Step-by-step explanation:

By using the compound interest formula

A= p[1+ r/100]^n

A= 19000, r=9%, n= 2×5=10

19000=p[1+0.09]^10

19000= p[1.09]^10

P= 19000/(1.09]^10

P=$8,025.80

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Try to imagine this word problem, there is a wall and a ladder leaning against it, the space from the bottom of the ladder is labeled 6 and the length of the height the ladder reaches on the wall is 8. Imagine this as a right triangle now, where the length of the ladder is the hypotenuse and the length of the legs of the triangle is 6 and 8. Because we know this, we can use the Pythagorean theorem, a^2+b^2=c^2
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3 years ago
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