dipayanbhowmik220
dipayanbhowmik220 dipayanbhowmik220
  • 27-10-2021
  • Mathematics
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What principal will amount to $2500 if invested at 5% interest compoundedsemiannually for 7.5 years?

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Sᴘᴀᴄᴇ7
Sᴘᴀᴄᴇ7 Sᴘᴀᴄᴇ7
  • 05-11-2021

Answer:

[tex]\longmapsto \boxed{\sf \: \$ 1726.16}[/tex]

Step-by-step explanation:

[tex] \sf \longmapsto \: 2500 = \: p \: = (1 + \frac{.05}{2} ) {}^{2 \times 7.5} [/tex]

[tex] \sf \longmapsto2500 \: = p(1.025) {}^{1.5} [/tex]

[tex] \sf \longmapsto \frac{2500}{1.45} = \: \frac{p(1.45)}{1.45} [/tex]

[tex]\sf \longmapsto \$1726.16 \: = p[/tex]

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