Answer:
$58,739.46 so $58,739
Step-by-step explanation:
I suspect you want $100,000 not $10000
A = P(1 + r/t)^nt
A = final amount
P = initial principal
r = interest rate
n = number of times the interest is applied per time period
t = number of time periods elapsed
number of time periods is 18-9 = 9
semiannual 2 makes n = 2
A = 100,000
P = ????
r = 0.06
n = 2
t = 2
I used to finance calculator app to find P = 58739.46
and double checked by using the formula to find A
A = P(1 + r/t)^nt
= 58739( 1 + 0.06/2)^(2(9))
= 58739.46( 1.03)^18
= 99999.9987
OR
A = P(1 + r/t)^nt solve for P
P = A/[(1 + r/t)^nt]
= 10000/[(1 + 0.06/2)^(2(9))]
= 100000 / [1.03^18]
= $58,739.46
