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deposited OS

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Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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How much money should be deposited today in an account that earns 4% compounded semiannually so that it will accumulate to $10,000 in three years? Click the icon to view some finance formulas, ..... The amount of money that should be deposited is (Round up to the nearest cent.) Formulas In the provided formulas, A is the balance in the account after t years, P is the principal investment, r is the annual interest rate in decimal form, n is the number of compounding periods per year, and Y is the investment's effective annual yield in decimal form. nt A P = A =Pet Y = - 1 nt 1+ Print Done
Transcribed Image Text:How much money should be deposited today in an account that earns 4% compounded semiannually so that it will accumulate to $10,000 in three years? Click the icon to view some finance formulas, ..... The amount of money that should be deposited is (Round up to the nearest cent.) Formulas In the provided formulas, A is the balance in the account after t years, P is the principal investment, r is the annual interest rate in decimal form, n is the number of compounding periods per year, and Y is the investment's effective annual yield in decimal form. nt A P = A =Pet Y = - 1 nt 1+ Print Done
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