SOLUTION: You make a one time deposit into an account earning 9.6% interest compounded semi-annually.After the 15 years, you have $2000 in the account. How much money did you originally inve

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Question 1154623: You make a one time deposit into an account earning 9.6% interest compounded semi-annually.After the 15 years, you have $2000 in the account. How much money did you originally invest into the account? Round to the nearest cent.
Answer by ikleyn(52782) About Me  (Show Source):
You can put this solution on YOUR website!
.

2000 = x%2A%281%2B0.096%2F2%29%5E%282%2A15%29%29


2000 = x*4.0817


x = 2000%2F4.0817 = 490.


ANSWER.  The original amount was 490 dollars.