document.write( "Question 413023: You wish to purchase a house for $120,000 in 12 years. You can invest your money at 4.5%/a compounded semi-annually for the first 5 years and then you can get 6%/a compounded semi-annually for the next 7 years
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Algebra.Com's Answer #289968 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

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document.write( "You wish to purchase a house for $120,000 in 12 years. You can invest your
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document.write( " money at 4.5%/a compounded semi-annually for the first 5 years and then you
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document.write( " can get 6%/a compounded semi-annually for the next 7 years
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document.write( "A= p(1+r/n) ^nt = p(1+.045/2)2*5 
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document.write( " p(1+.045/2)^2*5  +  [p(1+.045/2)^2*5](1-.06/2)^2*7 = 120,000
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document.write( " p = 120,000 / [1+.045/2)^2*5  + (1+.045/2)^2*5(1+.06/2)^2*7] = $38,207.59 \n" );
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