X=amount of money Ofeila hasx-$12=(1/5)xLet's eliminate the fractions by multiplying both sides by 5...5(x-$12)=(5)(1/5)x5x-$60=xLet's subtract 5x from both sides...-5x+5x-$60=x-5x-$60=-4xLet's divide both sides by -4...(-$60)/(-4)=(-4x)/(-4)$15=x -< AnswerLet's check our work...x-$12=(1/5)x$15-$12=(1/5)($15)$3=$3
The future value of $1,000 invested at 8% compounded semiannually for five years is 
<u>Solution:</u>
----------- equation 1
A = future value
P= principal amount
i = interest rate
n = number of times money is compounded
P = 1000
i = 8 %

(Compounding period for semi annually = 2)

Dividing “i” by compounding period

Solving for future value using equation 1



We cannot simplify it because the denominator does not have a common factor with the numarator.
I think u add not sure though