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4.- A person deposited twelve years ago an amount X, that has grown to $9,500 now. Given that the interest rate over the 12 years
4.- A person deposited twelve years ago an amount X, that has grown to $9,500 now. Given that the interest rate over the 12 years was 4% annual nominal, compounded semi-annually: what was the originally deposited amount X ? For the problems: - Draw the cash flow diagram - Show the procedure step by step . - For the interest rates: use minimal 4 decimals.
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