scole183 scole183

15-12-2016
Mathematics

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Jackie would like to buy a $19700 Toyota hybrid car in 4 years. Jackie wants to put the money aside now. Jackie's bank offers 8% interest compounded semiannually. How much must Jackie invest today?

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Aliwohaish12 Aliwohaish12

15-12-2016

A=p(1+i/k)^kt
19700=p(1+8%/2)^2*4
Can you solve for p??

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