suphoneys67 suphoneys67

24-01-2022
Mathematics

contestada

What was the principal for a
semi-annually compounded account
earning 3.9% for 15 years that now has a
balance of $2,500?

Respuesta :

jimthompson5910 jimthompson5910

24-01-2022

Answer: $1,400.63

Work Shown:

[tex]A = P*\left(1+\frac{r}{n}\right)^{n*t}\\\\ 2500 = P*\left(1+\frac{0.039}{2}\right)^{2*15}\\\\ 2500 \approx P*1.7849123867454\\\\ P \approx \frac{2500}{1.7849123867454}\\\\ P \approx 1400.62897123959\\\\ P \approx 1400.63\\\\[/tex]

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