SOLUTION: to get $2000 after 11 years at 8% compounded semiannually
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Question 471717: to get $2000 after 11 years at 8% compounded semiannually
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
8% per year --> 4% per semi-annual period --> 1.04
11 years = 22 periods
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2000 = P*1.04^22
P = 2000/(1.04)^22
P = $843.91
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