Select the correct answer.
what’s the future value of a $1,000 investment compounded at 8% semiannually for five years?
a : $1,469
b : $1,477
c : $1,480
d : $1,490

The future value of $1,000 invested at 8% compounded semiannually for five years is

Solution:

----------- equation 1

A = future value  

P= principal amount  

i = interest rate

n = number of times money is compounded  

P = 1000

i = 8 %

(Compounding period for semi annually = 2)

Dividing “i” by compounding period

Solving for future value using equation 1

hey there!

if she's saving for six months, let's divide the total number we need for the trip by six, dividing it into the amount that needs to be saved for each month.

500 ÷ 6 =

she needs to save at least this amount each month, so we should use this symbol: ≥

let x be the amount she saves each month.

your final answer is x ≥

hope this !

step-by-step explanation:

1. practice, practice & more practice

2. review errors

3. master the key concepts

do not try to memorise the processes.

4. understand your doubts.

5. create a distraction free study environment

6. create a mathematical dictionary

7. apply maths to real world problems.