document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=970393>Question 970393</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how much money should be deposited today in an account that earns 8% compounded semiannually so that it will accumulate to 14,000$ in three years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #593041 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=593041\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> how much money should be deposited today in an account that earns 8% compounded semiannually so that it will accumulate to 14,000$ in three years?<BR>\n" );
document.write( "***<BR>\n" );
document.write( "compound interest formula: A=P(1+r/n)^nt, P=initial investment, r=interest rate, n=number of compounding periods per year, A=amount after t-years<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "r=8%<BR>\n" );
document.write( "n=2<BR>\n" );
document.write( "t=3<BR>\n" );
document.write( "A=14000<BR>\n" );
document.write( "..<BR>\n" );
document.write( "14000=P(1+.08/2)^2*3<BR>\n" );
document.write( "14000=P(1.04)^6<BR>\n" );
document.write( "P=14000/1.04^6<BR>\n" );
document.write( "P=11064.40<BR>\n" );
document.write( "how much money should be deposited today? $11,064.40 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );