Find the amount that should be set aside today to yield the desired future amount. Use the table.

Future amount needed 3000.00

Interest rate 2%

Compounding period Investment time: semi annually

Inv Time 4 yrs

Present value of S1.00 (page 1) Rate per period Periods 1% 1.5% 25% 1 0.99010 0.98522 0.98039 0.97561 0.97087 2 0.98030 0.97066 0.96117 0.95181 0.94260 3 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 10 0.90529 0.86167 0.82035 0.78120 0.74409 11 0.89632 0.84893 0.80426 0.76214 0.72242 12 0.88745 0.83639 0.78849 0.74356 0.70138 13 0.87866 0.82403 0.77303 0.72542 0.68095 14 0.86996 0.81185 0.75788 0.70773 0.66112 15 0.86135 0.79985 0.74301 0.69047 0.64186 16 0.85282 0.78803 0.72845 0.67362 0.62317 17 0.84438 0.77639 0.71416 0.65720 0.60502 18 0.83602 0.76491 0.70016 0.64117 0.58739 19 0.82774 0.75361 0.68643 0.62553 0.57029 20 0.81954 0.74247 0.67297 0.61027 0.55368