Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 5 (1 point) Listen How much should you invest today in order to have $20,000 in 12 years if simple interest is earned

 

Question 5 (1 point) Listen How much should you invest today in order to have $20,000 in 12 years if simple interest is earned at 8.5% annually? $9563.02 $9900.99 $14,543.92 $10,050.00

Step by Step Solution

3.49 Rating (152 Votes )

There are 3 Steps involved in it

Step: 1

Formula Interest Annd For this Case simple Amout earne... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Robert Kemp, Jeffrey Waybright

2nd edition

978-0132771801, 9780132771580, 132771802, 132771586, 978-0133052152

More Books

Students also viewed these Finance questions

Question

What is lapping? Discuss.

Answered: 1 week ago