SOLUTION: calculate the amount that must be invested to yield $250000 after 25 years at 6% p.a. compounded fortnightly

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Question 805714: calculate the amount that must be invested to yield $250000 after 25 years at 6% p.a. compounded fortnightly

Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
250000=(P(1+0.06/26)^26*25
250000=P(1.0023)^650
250000=P(4.452)
250000/4.452=P
$56154.54=P