Question 891878
We'll use the formula A = P*(1+r/n)^(n*t) where...


A = 7000
P = unknown
r = 4.75% = 0.0475
n = 2 (compounding 2 times per year)
t = 5 yrs, 6 months = 5.5 years


Plug those values in and solve for P to get


<pre>
	A = P*(1+r/n)^(n*t)

	7000 = P*(1+0.0475/2)^(2*5.5)

	7000 = P*(1+0.02375)^(11)

	7000 = P*(1.02375)^(11)

	7000 = P*1.29459242778672

	7000/1.29459242778672 = P

	5407.1071711484 = P

	P = 5407.1071711484

	P = 5407.11
</pre>


You need to deposit <font color="red">$5,407.11</font>