Question
An amount P invested now and P invested two years from now will be worth a total of $2, 000 four years from now. If
An amount P invested now and P invested two years from now will be worth a total of $2, 000 four years from now. If interest is 3% APR compounding semiannually, what is the amount P rounded up to the nearest dollar?
(A) $836 (B) $837 (C) $914 (D) $915 (E) None of (A) - (D)
plz show steps in details
i got 914, but the correct answer is 915.... why?
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakin
7th Global Edition
0273754440, 9780273754442
