Please help!!

How much should Marc deposit once into an account at 8% compounded semi-
annually in order to have $3500 available for a round trip plane ticket to Sweden in 3 years?

Marc should deposit $2766

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

A = P(1+r/n)^nt

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

A = $3500

r = 8% = 8/100 = 0.08

n = 2 because it was compounded 2 times in a year.

t = 3 years

Therefore,

3500 = P(1+0.08/2)^2 × 3

3500 = P(1+0.04)^6

3500 = P(1.04)^6

3500 = 1.2653P

P = $2766

google dat sis

step-by-step explanation: