SOLUTION: how much money should be deposited today in an account that earns 5% compounded semiannually so that it will accumulate $8000 in three years
Algebra.Com
Question 801980: how much money should be deposited today in an account that earns 5% compounded semiannually so that it will accumulate $8000 in three years
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
8000=P(1.025)^6
8000=P(1.1597)
8000/1.1597=P
P=$6898
RELATED QUESTIONS
How much money should be deposited today in an account that earns 5% compounded... (answered by rfer)
How much money should be deposited today in an account that earns 4% compounded... (answered by Fombitz)
how much money should be deposited today in an account that earns 8% compounded... (answered by Alan3354)
how much money should be deposited today in an account that earns 8% compounded... (answered by lwsshak3)
How much money should be deposited today in an account that earns 44% compounded... (answered by addingup)
How much money should be deposited today in an account that earns 44% compounded... (answered by Fombitz)
How much money should be deposited today in an account that earns 7 % compounded... (answered by ikleyn,Theo)
How much money should be deposited today in an account that earns 5% compounded monthly... (answered by rfer)
how much money should be deposited today in an account that earns 3.5% compounded monthly (answered by htmentor)