Manipulating the left side of the equation, we obtain:
Using that
:
He needs to have $205783 amount of money to receive $5000 every 6 months for 10 years.
<h3>What is Interest ?</h3>
Interest is the amount of money received , when a certain lump sum amount is deposited.
It is given that the person is receiving ,
Interest = $5000 ,
after six months , every six month
Time Period = 10 years
Interest Rate = 4%
Compounded Semiannual
Let the principal amount be $x
Compound Interest is given by
Amount = P[ 1 + r/n]ⁿˣ
Here x is the time period
Therefore the Amount = x{ 1 +0.04/2}²⁰
x + 5000 *20 = x{ 1 +0.04/2}²⁰
x + 100000 = 1.486 x
x = $205783
Therefore he needs to have $205783 amount of money to receive $5000 every 6 months for 10 years.
To know more about Interest
brainly.com/question/13324776
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Answer:i need brainy answered sorry
Step-by-step explanation:sorry
Mean:12
median:11.5
mode:16
range:10
It doesn’t include the number it just stops there
