math

how much money should you invest now to have 6000 in 11 years if you invest the money at a rate of 11.1%. compounded semiannually.

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asked by nichole
  1. 22 time periods at .111/2 = .0555
    1.0555^22 =3.28157
    3.28157 x = 6000
    x = $1828.39

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    posted by Damon

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