Question 744675
P(1+R)^T
R=.03/2 (3% FOR 6 MO.)
T=.5 (6 MO.)
X(1+.03/2)^.5=1,000
X(1+.015)^.5=1,000
X(1.015)^.5=1,000
1.0124X=1,000
X=1,000/1.0124
X=$987.75 NEEDS TO BE INVESTED.