msteresalyn1 msteresalyn1

28-06-2017
Mathematics

contestada

An investment company pays 8% compounded semiannually. You want to have $12,000 in the future. How much should you deposit now to have that amount 5 years from now? (Round to the nearest cent)

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jorel1380 jorel1380

28-06-2017

Let d be the necessary amount for your deposit. Then:
12000=d x (1+.08/2)^2x5
12000=d x (1.04)^10
d=8106.77 ☺☺☺☺

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