Calculate the amount that an investor needs to be invest to earn $441 in interest in 12 months if the investor plans to invest x dollars in a savings account that pays interest at an annual rate of 7% compounded semi-annually?	Choose the correct option.
A) 6209 B) 6200 C) 6799 D) 6199 E) 6685
the approach is substitution,   our interest requirement is $441 after 12 months, 2 compounding period.   calculate the compound interest on each option and find out the one that yields $441 in 12 months   6200 yielded $441   using the formula   A = P(1 + r/n)nt   hence answer is 6200
<result>B</result>
Calculate the amount that an investor needs to be invest to earn $441 in interest in 12 months if the investor plans to invest x dollars in a savings account that pays interest at an annual rate of 7% compounded semi-annually?