Asked by Kayelyn Rooney on Jun 24, 2024
Verified
If the total interest earned on an investment at 8.2% compounded semi-annually for 8½ years was $1,175.98, what was the original investment?
Total Interest Earned
The cumulative amount of interest received from an investment over a particular period.
Original Investment
The initial amount of money put into an investment or project, serving as the baseline for measuring future earnings or losses.
- Utilize compound interest rate equations to determine future and present values of investments and loans.
- Compute the cumulative interest accrued or payable throughout the duration of an investment or borrowing.
Verified Answer
MD
Learning Objectives
- Utilize compound interest rate equations to determine future and present values of investments and loans.
- Compute the cumulative interest accrued or payable throughout the duration of an investment or borrowing.