Question
Asked Jan 14, 2020
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How much money should be deposited today in an account that earns 5%

compounded semiannually so that it will accumulate to $14,000

in three​ years?

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Expert Answer

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Step 1

The formula to calculate amount to be deposited in the account is shown below
where A is the accumulated amount = $14,000
P is the present value (money to be deposi...

Statistics homework question answer, step 1, image 1
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