Answer to Question #233738 in Civil and Environmental Engineering for Alan Enrico V Tuib

Question #233738
What sum of money now is equivalent to $8250 two years later, if interest is 4% per 6-month period?
1
Expert's answer
2021-09-12T00:30:24-0400







The number of periods of compounding n =4, i = 0.04 per period. Therefore, we find P as follows:




Answer is: $7052.13

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