Suppose Shelly needs to have $40,000 at the end of six years to open a cookie shop. She invests in an annu pays 8% interest, compounded semiannually. How much does she have to invest each compounding period
her goal?

Step-by-step explanation:

40,000= x (1+ .04)^12

the future value of the account =40,000

the amount invested at the end of each period =x because we do not know

the interest rate per period = 0.04 because 8% compounded semiannually is 4% per 6 months or written as decimals 0.04

(1+.04) because you gain interest so you add to the 100% of your money 4%

the number of periods = 12 because in 6 years we have twelve 6 months periods

x= $24,983.88

it costs $20 to interview each person for a survey. find the cost to obtain a +- 3% margin of error.

step-by-step explanation:

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