SOLUTION: How much money should be deposited today in an account that earns 44​% compounded semiannually so that it will accumulate to ​$14000 in 77 ​years

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Question 1073679: How much money should be deposited today in an account that earns 44​% compounded semiannually so that it will accumulate to ​$14000 in 77 ​years
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
Wow sign me up.
F=P%281%2Bi%29%5En
14000=P%281%2B0.44%2F2%29%5E%2877%2A2%29
14000=P%281.99257x10%5E%2813%29%29
P=14000%2F%281.99257x10%5E%2813%29%29
P=7.03x10%5E%28-10%29%29
Less than a penny, check your numbers and make sure they are all correct.
If they are and you actually invest 1 penny then,
F=0.01%281%2B0.44%2F2%29%5E%2877%2A2%29
F=1.99x10%5E11
That's almost 200 billion dollars.