SOLUTION: An investment company pays 8​% compounded semiannually. You want to have $22000 in the future.

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Question 1148660: An investment company pays 8​% compounded semiannually. You want to have $22000 in the future.
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+22000+=+P%2A%28+1+%2B+.08%2F2+%29%5E%28+2t+%29+
If you want $22,000 in 10 yrs,
+22000+=+P%2A%28+1+%2B+.04%29%5E%28+2%2A10%29+
+22000+=+P%2A1.04%5E20+
+22000+=+P%2A2.191+
+P+=+10041.08+
If you invest $10,041.08 now, you will have $22,000
in ten years