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shr0aVictopandrenoa
shr0aVictopandrenoa shr0aVictopandrenoa
  • 21-07-2016
  • Mathematics
Answered

after 6 years, an investment is worth $8479. if the money was invested at 9% interest compounded semiannually what was the initial investment

Verified Answer :

Anonymous Anonymous
  • 21-07-2016

The solution would be like this
for this specific problem:

8479 = P (1 + 0.09/2)^(2 6) 

8479 = P * (1 + 0.045)^12 

8479 / (1.045)^12 = P 

P = 4999.7599101968641899706115543368

If the money was invested at 9%
interest compounded semiannually, the initial investment is $5000. I am hoping that this answer has
satisfied your query and it will be able to help you in your endeavor, and if
you would like, feel free to ask another question.

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