Semiannual compounding-polynomial equation

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Reference no: EM13120319

P dollars is invested at annual interest rate r for 1 year. If the interest is compounded semiannualy, then the polynomial P(1+r/2)^2 represents the value of the investment after 1 year. Rewrite this expression without parentheses. Evaluate the polynomial if P=$200 and r = 10%.

Reference no: EM13120319

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