Complex Compound Interest: Homework

[Brooke47Walsh]

How much should Renee invest in an account paying 6% interested calculated semi-annually to have $12,500 in 7 years time?

A=P(1+i)n

 

[Ishuda]

How much should Renee invest in an account paying 6% interested calculated semi-annually to have $12,500 in 7 years time?

A=P(1+i)n

So if
A = P (1+i)ⁿ
how would you find n? Hint: Have you heard of logarithms?

 

[Brooke47Walsh]

So if
A = P (1+i)ⁿ
how would you find n? Hint: Have you heard of logarithms?

i need to find p

 

[Ishuda]

i need to find p

Then how would you find P? If 2 P = 4, what would P be?

 

[Brooke47Walsh]

OK; but you need "n" and "i" to get "p".
Do you at least know what they stand for?

n= semi-anually and 7 years
i= 6% 0.06
A= $12,500

i know the answer is around about $8,....
but i dont know who to get to it