SOLUTION: Help please!!
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 represents the value of the in
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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 represents the value of the in
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Question 87062: Help please!!
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 represents the value of the investment after 1 year. Rewrite this expression without parentheses and evaluate the polynomial if P=$200 and r=10%. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! the polynomial P(1+r/2)^2 represents the value of the investment after 1 year. Rewrite this expression without parentheses and evaluate the polynomial if P=$200 and r=10%.
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P(1+r/2)^2 = P[1^2 + 2(1)^(r/2) + (r/2)^2]
=P[1 + r + (r^2)/4]
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if P=$200 and r=10% you get:
200[1 + 0.1 + (0.01/4)]
200[1.1025]
=220.50
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Cheers,
Stan H.
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