math

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

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asked by nichole
  1. 22 periods at .094/2 = .047
    1.047^22 = 2.7468
    2.7468 x = 5000
    x = $1820.30

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    posted by Damon

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