Answered step by step
Verified Expert Solution
Question
1 Approved Answer
find the amount that should be set aside today to yield the desired future amount. use the table. future amount needed $3000 interest rate 4%
find the amount that should be set aside today to yield the desired future amount. use the table. future amount needed $3000 interest rate 4% compounding period semiannualy investment time 3 years. the amount should be set aside today is?
Present value of $1.00 (page 1) Periods 1 SEBO vouw Rate per period 1% 1.5% 2% 2.5% 3% 0.99010 0.98522 0.98039 0.97561 0.97087 0.98030 0.97066 0.96117 0.95181 0.94260 0.97059 0.95632 0.94232 0.92860 0.91514 -0.96098 0.94218 0.92385 0.90595 0.88849 0.95147 0.92826 0.90573 0.88385 0.86261 0.94205 0.91454 0.88797 0.86230 0.83748 0.93272 0.90103 0.87056 0.84127 0.81309 0.92348 0.88771 0.85349 0.82075 0.78941 0.91434 0.87459 0.83676 0.80073 0.76642 0.90529 0.86167 0.82035 0.78120 0.74409 0.89632 0.84893 0.80426 0.76214 0.72242 0.88745 0.83639 0.78849 0.74356 0.70138 0.87866 0.82403 0.77303 0.72542 0.68095 R6006 21195 0 75709070772 66112 Print Done Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started