SOLUTION: Hello tutor I am really struggling with this question and require your help pleas. What must be invested today, to be worth $20,000 in 10 years, if it is compounded yearly at

SOLUTION: Hello tutor I am really struggling with this question and require your help pleas. What must be invested today, to be worth $20,000 in 10 years, if it is compounded yearly at

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Question 969051: Hello tutor I am really struggling with this question and require your help pleas.

What must be invested today, to be worth $20,000 in 10 years, if it is compounded yearly at 8%?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
What must be invested today, to be worth $20,000 in 10 years, if it is compounded yearly at 8%?
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20000 = AMT*(1.08)^10
AMT = 20000/(1.08)^10
=~ $9263.87

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