SOLUTION: D -92: Compounded semiannually. P dollars is invested at annual interest rate r for 1 year. If the interest is compounded semiannually, then the polynomial P(1+ r/2)2 (the r and 2
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Question 152830: D -92: Compounded semiannually. P dollars is invested at annual interest rate r for 1 year. If the interest is compounded semiannually, then the polynomial P(1+ r/2)2 (the r and 2 is in fraction from and the 2 outside the parentheses is a degree) represents the value of the investment after 1 year. Rewrite this expression without parentheses. Evaluate the polynomial if P=$200 and r= 10%.
I was unable to locate ISBN Answer by mducky2(62) (Show Source):
You can put this solution on YOUR website! Let's start with the first part of the question, which is rewriting the expression without parentheses.
We can use the FOIL method. (Multiply the pairs: front, outside, inside, then last)
Now we can evaluate this new expression by plugging in P = $200 and r = 0.1 (10% equals 10/100 or 1/10):
Therefore, the value of the investment after one year is $220.50.
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