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Apr compounded semi-annually

Today, your investment account has a balance of $3,000. Exactly one year ago you made a onetime deposit into the account.

1) Exactly, how much did you invest one year ago if the investment account pays a 7.5 APR compounded semi-annually?

2) Instead, suppose you made one deposit exactly 6 months ago and another, equally sized deposit, today. What was the dollar amount of each deposit if you have exactly $3,000 dollars in your account today and the account pays a 7.5 APR compounded semi-annually?

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Finance Basics: Apr compounded semi-annually

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Apr compounded semi-annually

Reference No:- TGS01452009

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Apr compounded semi-annually

Reference No:- TGS01452009

Recent Questions Asked Finance Basics

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Q : What is your expected rate of return

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