Answer:
$1,951.03.
Step-by-step explanation:
To determine how much money would you have to invest at 7% compounded semiannually so that the total investment has a value of $ 2,090 after one year, the following mathematical calculation must be performed:
X x (1 + 0.07 / 2) ^ 1x2 = 2,090
X x 1,035 ^ 2 = 2,090
X x 1.071225 = 2,090
X = 2,090 / 1.071225
X = 1,951.03
Thus, $ 1,951.03 must be invested at 7% per annum compounded semiannually to have $ 2,090 in the account after one year.
