Gil wants to have $9,500 is 7 years use the present value formula to calculate how much he should invest now at 2% interest compounded semi-annually in order to reach his goal

828. all there is to it!

here, if you ever need with rounding (or other forms of arithmetic/math) again, use this:

thats the rounding one, but if you just click the top left, it shows you all the calculators you may need!

answer

d. 10

explanation

the distance from point y to wx is the height of the triangle.

using pythagoras theorem,

group similar terms to get,

this implies that,

take positive square root of both sides to get,

this implies that,

part a: 1.08

part b: 27.59