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March 27, 2015

March 27, 2015

Posted by **Tee** on Thursday, June 27, 2013 at 10:27pm.

How much total money will Julius have after 5 years?

- Business Math -
**Henry**, Saturday, June 29, 2013 at 8:49pmP = Po(1+r)^n.

Po = 50000

r = (1.6%/2)/100% = 0.008 = Semi-APR.

n = 2comp./yr. * 5yrs = 5yrs = 10 Compounding periods.

Plug the above values into the given Eq and solve for P.

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