How much money should be deposited today in an account that earns 7% compounded semiannually so that it will accumulate to $11,000 in three years?
the amount of money that should be deposited is $ n
(round up to the nearest cent.)

$8950.37

Step-by-step explanation:

Use the compound amount formula A = P(1 + r/n)^(nt), in which P is the initial amount of money (the principal), r is the interest rate as a decimal fraction, n is the number of times per year that interest is compounded, and t is the number of years.

Here we have A = $11,000, n = 2, r = 0.07 and t = 3, and so:

$11,000 = P(1 + 0.07/2)^(2*3), or

$11,000 = P (1.035)^6

                                           $11,000        $11,000

Solving for P, we get P = = = $8950.37

                                            1.035^6          1.229

Depositing $8950.37 with terms as follows will result in an accumulation of $11,000 after 3 years.

answer: 12

step-by-step explanation:

the final amount you will pay is $68.04.

the tip is determined by the pre-tax amount, so we calculate the tip based on the original bill, not after we've added sales tax.

to find the tip:

we can divide 54.00 by 100 to get 1% of 54. then we multiply that by 18.

54 / 100 = .54

.54 x 18 = 9.72

tip = 9.72$

to find the tax:

we can divide 54.00 by 100 to get 1% of 54. then we can multiply that by 8 to get 8%.

54 / 100 = .54

.54 x 8 = 4.32

tax= 4.32

now we can add the tip and tax to the bill to get our total.

54 + 9.72 + 4.32 = 68.04

total: $68.04

step-by-step explanation: