Question

I seriously need someone help on this please I'm not really good in math please please please please please please help me

Answer 1

$A=P(1+ \frac{r}{n})^{nt}$

A=future amount
P=present amount
r=rate in decimal
t=time in years
n=how many tmes per year it is compounded

they want 110,000=A
present amount=?
rate is 6% or 0.06
time is 12 years
semianually means 2 times per year, so n=2

$110,000=P(1+ \frac{0.06}{2})^{(2)(12)}$
$110,000=P(1+ 0.03)^{24}$
$110,000=P(1.03)^{24}$
divide both sides by (1.03)^24 using your graphinc calculator
54112.7109=P
$54,112.71 should be invested