An investment receives 20% annual interest compounded semi-annually for 2 years. If its final value is $29,200, approximately what was the initial investment?	Choose the correct choice from the following answers
A) $ 17,000 B) $ 18,000 C) $ 19,000 D) $ 20,000 E) $ 21,000
At the same time the key concept to keep in mind is that interest compound annually, semestral and so on are simply % increase or decrease, one after another.   Similarly, we have 100 and we have a discount of 20% and then 10 % . We have , of course, 80 and after this 10% of 80.   Here is the same.   here we have 20% 2 times per year so: 10% or 1.1 for two years. 1.141.14or 1.1 four times.   if we have the original amount X and the final amount 29,200. We need only to divide 29,200/1.1the result again 1.1 for four times.the result is 19943 We have approximately.   $ 20,000 is the answer.
<result>D</result>
An investment receives 20% annual interest compounded semi-annually for 2 years. If its final value is $29,200, approximately what was the initial investment?