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A company must pay a $305,000 settlement in 5 years. (a) What amount must be deposited now at 6% compounded semiannually to have enough money
A company must pay a $305,000 settlement in 5 years. (a) What amount must be deposited now at 6% compounded semiannually to have enough money for the settlement? (b) How much interest will be earned? (c) Suppose the company can deposit only $200,00. .now. How much more will be needed in 5 years? (d) Suppose the company can deposit $200,000 now in an account that pays interest continuously. What (a) The amount that must be deposited is $ (Do not round until the final answer. Then rourid to the nearest hundredth as needed.) (a) What amount must be deposited now at 6% compounded semiannually to have enough money for the settlement? (b) How much interest will be earned? (c) Suppose the company can deposit only $200,000 now. How much more will be needed in 5 years? (d) Suppose the company can deposit $200,000 nofyin an account that pays interest continuously. What interest rate would they need to accumulate the entire $305,000 in 5 years? (a) The amount that must be deposited is $ (Do not round until the final answer. Then round to the nearest hundredth as needed.)
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