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2 years ago

14

How much money should be deposited today in an account that earns 4% compounded semi annually so that it will accumulate to 13,0

00 in 3 years?

1 answer:

DedPeter [7]2 years ago

5 0

Answer:

$11543.63

Step-by-step explanation:

<u>Plug information into A=P(1+r/n)^nt</u>

13000 = P(1+(.04/2))^(2*3)

13000 = P(1.02)^6

<u>Isolate P</u>

13000/(1.02^6) = P

P = $11543.63

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