SOLUTION: Can I get a littl help please? How much must you invest today at 6.5% compounded semiannually if you would like to have $25,000 in 10 years? (To the nearest cent) Thank you v

Question 430357: Can I get a littl help please?
How much must you invest today at 6.5% compounded semiannually if you would like to have $25,000 in 10 years? (To the nearest cent)
Thank you very much!
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How much must you invest today at 6.5% compounded semiannually if you would like to have $25,000 in 10 years?
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A(t) = P(1+(r/n))^(nt)
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25,000 = P(1+(0.065/2))^(2*10)
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25000 = P(1.0325)^(20)
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P = 25000/1.8958
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P = $13,186.78
=================
Cheers,
Stan H.

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