SOLUTION: I need immediate help with this problem. I don't understand it and I have to show all my work.“P dollars is invested at annual interest rate r for one year. If the interest is comp

Algebra ->  Exponents -> SOLUTION: I need immediate help with this problem. I don't understand it and I have to show all my work.“P dollars is invested at annual interest rate r for one year. If the interest is comp      Log On


   

Question 858948: I need immediate help with this problem. I don't understand it and I have to show all my work.“P dollars is invested at annual interest rate r for one year. If the interest is compounded semiannually, then the polynomial P(1+r/2)² represents the value of the investment after 1 year. Evaluate the polynomial if P=$200 and r=10%
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
P(1+r/2)²
P=100
r= 10% = 0.1
100(1+0.1)^2
100*1.1^2
=121
$121 .00