Solve the problem. How much money should be deposited today in an account that earns 6% compounded semiannually so that it will accumulate to $9000 in 2 years? (Round up to the nearest cent.) $8009.97 O $10,129.58 O $1003.62 O $7996.38

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Solve the problem.
How much money should be deposited today in an
account that earns 6% compounded semiannually so
that it will accumulate to $9000 in 2 years?
(Round up to the nearest cent.)
$8009.97
O $10,129.58
O $1003.62
$7996.38
Transcribed Image Text:Solve the problem. How much money should be deposited today in an account that earns 6% compounded semiannually so that it will accumulate to $9000 in 2 years? (Round up to the nearest cent.) $8009.97 O $10,129.58 O $1003.62 $7996.38
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