Question

NEED HELP ASAP

Answer 1

Well, we know that Stanley has to wait 8 years. Since we are given a rate in half-years, we convert that 8 to 16 half - years.

Then, we write an equation where x is the original amount.

x * 1.075^16 = 10000

Then, we solve.

That gives us about $3,143.87.