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Alex wants to have $3000 in his bank account after 4 years. If the account earns 6% interest compounded 2 times per year, how much should he put in? Round to the nearest cent. A. $2863.32 B. $2238.36 C. $2633.82 D. $2368.23

Respuesta :

3000 = p( 1 + .06/2)^(4 * 2) 

3000 = p(1.03)⁸ 

p = 3000/ 1.03⁸ 

p = 2368.2277029 

$2368.23 <-----
3000 = p( 1 + .06/2)^(4 * 2) 

3000 = p(1.03)⁸ 

p = 3000/ 1.03⁸ 

p = 2368.2277029 

$2368.23 <-----

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