Answer
$\$ 7678.96$
Work Step by Step
Need to use formula: $A(t)=P(1+\dfrac{r}{n})^{nt}$
Here, we have
$A(3)=10000=P(1+\dfrac{0.09}{2})^{(2)(3)}$
or, $10000=P(1+\dfrac{0.09}{2})^{6}$
or, $P=\dfrac{10000}{(2.09/2)^6}=\$ 7678.96$
Precalculus: Mathematics for Calculus, 7th Edition
by Stewart, James; Redlin, Lothar; Watson, Saleem
Published by
Brooks Cole
ISBN 10:
1305071751
ISBN 13:
978-1-30507-175-9
Chapter 4 - Section 4.1 - Exponential Functions - 4.1 Exercises - Page 338: 61
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