What amount would have to be invested at the end of each year for the next 8 years at 4% compounded semi-annually in order to have 5,000 at the end of the time?

1
by Ioulos

• Brainly User
2015-10-01T08:32:45+08:00

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The formula is:

where:
A = amount accumulated;  Php 5,000
P - principal/amount inversted; unknown
r = interest rate (compounded) at 4% or 0.04
n = compounding per period; semi-annually; 2
t = number of periods, 8 years

nt = (2) (8) = 16

Equation:

P = 3,641.66 or 3,642.00

The amount invested is Php 3,642.00

a. 541.86 b.553.82 c.542.64 d.548.23
Manipulate the amount to get the amount invested at the end of each year.
Sorry, I mean manipulate the formula. Hahaha :-) I 'm not suggesting you plunder the money or something. My bad, :-) Have a blessed day :-)
But we're both correct of the amount invested at the beginning of the year :-)
**on the amount, not of the amount...