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after 6 years, an investment is worth $8479. if the money was invested at 9% interest compounded semiannually what was the initial investment

User Gbdivers
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1 Answer

3 votes

The solution would be like this for this specific problem:

8479 = P * (1 + 0.09/2)^(2 * 6)
8479 = P * (1 + 0.045)^12
8479 / (1.045)^12 = P
P = 4999.7599101968641899706115543368

If the money was invested at 9% interest compounded semiannually, the initial investment is $5000. I am hoping that this answer has satisfied your query and it will be able to help you in your endeavor, and if you would like, feel free to ask another question.

User Holy
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