SOLUTION: How much money would you have to invest at 8% compounded semiannually so that the total investment has a value of $2,230 after one year?
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Question 808281: How much money would you have to invest at 8% compounded semiannually so that the total investment has a value of $2,230 after one year?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
2230=P(1.04)^2
2230=P(1.0816)
2230/1.0816=2061.76
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