How much money should be deposited today in an account that earns 3 % compounded semiannually so that it will accumulate to $8000 in three? years

$7319.3  should be deposited today in an account so that it will accumulate to $8000 in three years.

Step-by-step explanation:

Formula for Compounded semiannually

Where P is the principle , r is the rate of interest in the decimal form and t is the time in years.

Amount = $8000  

3% is written in the decimal form.

= 0.03

r = 0.03

t = 3 years

Put in the formula

P = $7319.3

Therefore  $7319.3  should be deposited today in an account so that it will accumulate to $8000 in three years.

what is the model?

step-by-step explanation: