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    Investment accounts

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    Today, your investment account has a balance of $3,000. Exactly one year ago you made a onetime deposit into the account.

    a. Exactly, how much did you invest one year ago if the investment account pays a 7.5 APR compounded semi-annually?

    b. Instead, suppose you made one deposit exactly 6 months ago and another, equally sized deposit, today. What was the dollar amount of each deposit if you have exactly $3,000 dollars in your account today and the account pays a 7.5 APR compounded semi-annually?

    © BrainMass Inc. brainmass.com June 3, 2020, 5:42 pm ad1c9bdddf
    https://brainmass.com/business/finance/apr-investment-accounts-35380

    Solution Preview

    a. Exactly, how much did you invest one year ago if the investment account pays a 7.5 APR compounded semi-annually?
    the deposit 1 years ago is
    FV = $3,000
    Interest rate = 7.5% / ...

    Solution Summary

    This is a solution to a finance problem dealing APR and investment accounts.

    $2.19

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