Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your plan is to have $ 4 5 , 0 0 0 in your account, 1 1 years from today. You can invest in an

Your plan is to have $45,000 in your account, 11 years from today. You can invest in an account that pays 6.7 perceit, compounded semi-annually. How much do you have to invest today to attain your target in 11 years?
a. $91,837.7272
b. $22,668.1079
c. $21,796.2576
]. $24,193.8459
e. None of the above
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Overcoming Debt Achieving Financial Freedom

Authors: Cindy Zuniga-Sanchez

1st Edition

1119902320, 978-1119902324

More Books

Students also viewed these Finance questions