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OpenStudy (anonymous):
After 6 years, an investment is worth $8479. If the money was invested at 9% interest compounded semiannually, what was the initial investment?
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OpenStudy (anonymous):
A=P(1+(r/n)^nt
OpenStudy (anonymous):
solve \[8479=P(1+\frac{.09}{2})^{12}\]for P
OpenStudy (anonymous):
\[\frac{8479}{(1.045)^{12}}=P\] now a calculator
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