Question

Every six months, Jackie deposits $550 into an interest-bearing account to save for her children's tuition. The interest rate on the account is 7.8% compounding semiannually. What is the present value of the investment if Jackie's children leave for college in 12 years?

Answer 1

the answer is 14229.60. u times the 550 by 7.8 percent which is 42.90 so add that to 550 then times by 2 then times that answer by 12