SOLUTION: Simeon wants to invest an amount now that will have a total value of $10 000 after 5 years. The compounded interest rate of the investment is 12% per annum. Calculate the amount th

Question 1201578: Simeon wants to invest an amount now that will have a total value of $10 000 after 5 years. The compounded interest rate of the investment is 12% per annum. Calculate the amount that Simeon will have to invest today to receive $10 000 at the end of year five
Found 2 solutions by Glaviolette, Alan3354:
Answer by Glaviolette(140) (Show Source): You can put this solution on YOUR website!

Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
The compounding period must be specified.
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