how much money should you invest now to have 5000 in 11 years if you invest the money at a rate of 9.4%. compounded semiannually
22 periods at .094/2 = .047
1.047^22 = 2.7468
2.7468 x = 5000
x = $1820.30
1.047^22 = 2.7468
2.7468 x = 5000
x = $1820.30