document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1187849>Question 1187849</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Gil wants to have $9,500 in 7 years. Use the present value formula to calculate how much he should invest now at 2% interest, compounded semiannually in order to reach his goal.<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #818847 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=818847\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 7 years cpd semiannually is 14 different compounding times<BR>\n" );
document.write( "9500=m(1+0.01)^14, the 0.01 being from 0.02/2<BR>\n" );
document.write( "m=$8264.65, rounding at the end. </SPAN>\n" );
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