Multiple choice: Please select the best answer and click "submit."Which term best describes the statement given below?If p- q an
d q r, then p r.O A. Converse statementO B. A syllogismO C. Contrapositive statementO D. Inverse statement
2 answers:
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Given rate is = 7% or 0.07
Total amount needed = $12000
Time = 4 years
Here, the deposit is compounded semiannually, means twice per year and this gives 8 annual compounding periods in 4 years.
The equation becomes:
P=
P =
Solving it, we get P = $ 9112.93
Hence $9112.93 should be deposited today.