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? Select:  A) 6209  B) 6200  C) 6799  D) 6199  E) 6685

Rationale: 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 b
Answer: B