Calculate the amount that an investor needs to be invest to earn $1023 in interest in 24 months if the investor plans to invest x dollars in a savings account that pays interest at an annual rate of 12% compounded semi-annually?	Choices:
A) 3980	B) 3600	C) 3700	D) 3800	E) 3900
the approach is substitution,   our interest requirement is $1023 after 24 months, 2 compounding period.   calculate the compound interest on each option and find out the one that yields $1023 in 24 months   3900 yielded $1023   using the formula   A = P(1 + r/n)nt   hence answer is 3900
<result>E</result>
Calculate the amount that an investor needs to be invest to earn $1023 in interest in 24 months if the investor plans to invest x dollars in a savings account that pays interest at an annual rate of 12% compounded semi-annually?