Question
Shane wants to invest money in a 6% CD account that compounds semiannually. Shane would like the account to have a balance of $200,000 3-years
Shane wants to invest money in a 6% CD account that compounds semiannually. Shane would like the account to have a balance of $200,000 3-years from now. How much must Shane deposit to accomplish his goal?
a)$36,000
b)$174,996.
c)$168,011.
d)$167,496.
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Financial & Managerial Accounting For Undergraduates
Authors: Jason Wallace, James Nelson, Karen Christensen, Theodore Hobson, Scott L. Matthews
2nd Edition
161853310X, 9781618533104
