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Calculate the dollar amount of each deposit

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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?

 

Reference no: EM1365214

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