WHAT SUM INVESTED AT 4% PER ANNUM COMPOUNDED SEMI-ANNUALY AMOUNT TO ®7803 AT THE END OF ONE YEAR?
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Answer:
Calculate:
Principal (P)
Where: P = A / (1 + r/n)^(nt)
Total P+I (A): $ 7,803.00
Rate (R): % 4
Compound (n): Compounding Annually (1/Yr)
Time (t in years): 1
Answer:
P = $ 7,502.88
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