Monday

January 26, 2015

January 26, 2015

Posted by **AJAY** on Sunday, July 3, 2011 at 8:28am.

- math -
**Henry**, Monday, July 4, 2011 at 4:13pmPt = Po(1+r)^n,

r = APR/2 = 9.3 / 2 = 4.65% = 0.0465 =

rate per compounding period.

n = 2 comp./yr * 11yrs = 22 compounding

periods.

7000 = Po(1.0465)^22,

Po = 7000 / (1.0465)^22 = $2575.34.

**Answer this Question**

**Related Questions**

math - how much money should you invest now to have 5000 in 11 years if you ...

math - how much money should you invest now to have 6000 in 11 years if you ...

math - Jim wants to deposit money in an account to save for a new stereo system ...

Math - Jason Printing has $85,000 to invest. They can invest in Wilder Revenue ...

Math - Jason Printing has $85,000 to invest. They can invest in Wilder Revenue ...

Math - Jason Printing has $85,000 to invest. They can invest in Wilder Revenue ...

math - Jim wants to deposit money in an account to save for a new stereo system ...

MATH - Rico can invest money at 10%/a compounded quarterly. He would like $15 ...

Math 109 - If an account has a 3.4% interest rate compounded monthly, how much ...

math - In order to have $10000.00 in 5 years, how much would a person have to ...