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April 20, 2014

April 20, 2014

Posted by **Anonymous** on Monday, August 20, 2012 at 11:58pm.

$ 1

- math -
**Henry**, Wednesday, August 22, 2012 at 8:28pmP = Po(1+r)^n.

Po = $425.

r = (7.5%/2) / 100% = 0.0375 = Semi-annual rate expressed as a decimal.

n = 2Comp/yr * 11yrs = 22 Compounding

periods.

Plug the above values into the given Eq.

Answer: P = $955.27.

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