document.write( "Question 1207320: How much money should be deposited today in an account that earns 7 % compounded semiannually so that it will accumulate to $ 13 comma 000 in three years?
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Algebra.Com's Answer #845127 by ikleyn(52777) $\"\"$ $\"About$

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document.write( "For the given conditions, the formula for the future value of this\r\n" );
document.write( "compounded account is\r\n" );
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document.write( "    FV = .\r\n" );
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document.write( "where X is the amount deposited today.\r\n" );
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document.write( "So, our equation to find the unknown value X is\r\n" );
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document.write( "    13000 = .\r\n" );
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document.write( "From this equation, we find\r\n" );
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document.write( "    X =  = 10575.51  (rounded to the closest greater cent).\r\n" );
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document.write( "ANSWER.  The amount to deposit today is $10575.51.\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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