You would like to have $1000 in 1.5 years to buy a new wardrobe when you graduate and enter the job market. If you think you can earn 8% on your money, how much must you deposit today? (Hint: Convert to a semi-annual rate for r and use the number of semi-annual periods for t. Semi-annual means two periods per year.) Enter only numbers in your response. Round to 2 decimal places. Calculate the present value of the cash flows on the timeline. The relevant rate is 9%. (Enter only numbers and decimals in your response. Round to 2 decimal places.) 6 - Image $0.00 $10,000.00 $0.00 $10,000.00 Close