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

Algebra ->  Equations -> 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      Log On


   

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