document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1198831>Question 1198831</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If a bank pays 15% compounded semi-annually, how much should be deposited now to have $1800 in 5 years from now?<BR>\n" );
document.write( "Amount the needs to be deposited now = $ </SPAN>\n" );
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document.write( "Answer:   <font color=red size=4>$873.35</font>\r<BR>\n" );
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document.write( "Work Shown:<BR>\n" );
document.write( "A = P*(1+r/n)^(n*t)<BR>\n" );
document.write( "1800 = P*(1+0.15/2)^(2*5)<BR>\n" );
document.write( "1800 = P*(1.075)^(10)<BR>\n" );
document.write( "1800 = P*2.061032<BR>\n" );
document.write( "P = 1800/2.061032<BR>\n" );
document.write( "P = 873.348885<BR>\n" );
document.write( "P = <font color=red>873.35</font>\r<BR>\n" );
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document.write( "Check:<BR>\n" );
document.write( "A = P*(1+r/n)^(n*t)<BR>\n" );
document.write( "A = 873.35*(1+0.15/2)^(2*5)<BR>\n" );
document.write( "A = 1800.001915<BR>\n" );
document.write( "A = 1800.00<BR>\n" );
document.write( "</font> </SPAN>\n" );
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