Question 1202754
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You're planning to make a one-time deposit into an account paying 8.3% annual interest, 
compounded semiannually. You want to have $76,500 at the end of 6 years. 
How much do you need to deposit today to make this happen?
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<pre>
Let X be the value under the problem's question, now unknown.


Then we have THIS equation for the future value

    76500 = {{{X*(1+0.083/2)^(2*6)}}}.


It gives us the <U>ANSWER</U>

    X = {{{76500/(1+0.083/2)^12}}} = use your calculator = 46962.39  dollars (rounded to the closest greater cent).
</pre>

Solved.


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For more details and explanations, &nbsp;and to see other similar and different solved problems, &nbsp;look into these two lessons

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson>Compounded interest percentage problems</A> 

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/logarithm/Problems-on-discretely-compound-accounts.lesson>Problems on discretely compound accounts</A> 

in this site, &nbsp;and learn the subject from there.


After reading these lessons, &nbsp;you will tackle such problems on your own without asking for help from outside.