document.write( "Question 1199452: You wish to purchased a house for $120,000 in 12 years. You can invest your money at 4.5%/a compounded semiannually for the first 5 years and then you can get 6%/a compounded semiannually for the next 7 years. How much do you need to invest now? (Hint: start with the last 7 years) HELPPPPPPP PLZ \n" ); document.write( "

Algebra.Com's Answer #833339 by ikleyn(52768) $\"\"$ $\"About$

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\n" ); document.write( "You wish to purchased a house for $120,000 in 12 years. You can invest your money at 4.5%/a compounded semiannually
\n" ); document.write( "for the first 5 years and then you can get 6%/a compounded semiannually for the next 7 years.
\n" ); document.write( "How much do you need to invest now? (Hint: start with the last 7 years) HELPPPPPPP PLZ
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document.write( "Let A be \"how much you need to invest now\", in dollars.\r\n" );
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document.write( "After 5 years, this amount will grow up to\r\n" );
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document.write( "     =  = 1.249203*A  dollars.\r\n" );
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document.write( "After next 7 years, this amount of  1.249203*A  dollars will grow up to\r\n" );
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document.write( "     =  = 1.249203*A*1.5125897 = 1.889532*A dollars.\r\n" );
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document.write( "Your equation to find A is\r\n" );
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document.write( "    1.889532*A = 120000  dollars.\r\n" );
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document.write( "From this equation, you find  A =  = 63507.79  dollars.\r\n" );
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document.write( "ANSWER.  You should invest  $63507.79  dollars now.\r\n" );
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\n" ); document.write( "\n" ); document.write( "To see many other similar (and different) solved problems on compounded interest accounts, look into the lesson\r
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\n" ); document.write( "\n" ); document.write( "Learn the subject from there.\r
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