A school soccer team needs $9000 in 2 years to travel to a tournament in Florida. The team decides to have a fundraising event now and puts the money into an investment that will earn interest at 5% per year, compounded semi-annually. a)How much does the team need to raise? b)How much interest will be paid?
A school soccer team needs $9000 in 2 years to travel to a tournament in Florida. The team decides to have a fundraising event now and puts the money into an investment that will earn interest at 5% per year, compounded semi-annually. a)How much does the team need to raise? b)How much interest will be paid?
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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A school soccer team needs $9000 in 2 years to travel to a tournament in Florida. The team decides to have a fundraising event now and puts the money into an investment that will earn interest at 5% per year, compounded semi-annually.
a)How much does the team need to raise?
b)How much interest will be paid?
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