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Posted by on Sunday, April 29, 2012 at 7:16pm.

What initial investment at 9% compounded semiannually for 5 years will accumulate to $15,000?

  • Math - , Sunday, April 29, 2012 at 7:34pm

    4.5 percent or ten periods
    p (1.045)^10 = 15,000
    p = 15,000/(1.045)^10
    = 9658.92

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