Main Question or Discussion Point
Are there any Math/Finance Majors in here? I am currently a Math major, but I am also thinking about doing a double-major with Finance. I start this summer, so I still have time.
You have to use the formulaHi, I'm new to this site and may be in the wrong place. If so, kindly direct me to the right place.
I wold like to solve the following question:
If the total interest earned on an investment at 8.2% compounded semiannually for 8.5 years was $1,175.98, what was the original investment?
I would like to know what formula(s) to use.
Thank you in advance.