In order to have $10000.00 in 5 years, how much would a person have to invest if the money will earn 8% interest compounded semiannually?
multiply principal by 1.04 10 times
1.04^10 = 1.48
1.48 P = 10,000
P = $6755.64
1.04^10 = 1.48
1.48 P = 10,000
P = $6755.64