SOLUTION: how much should jonathan invest now at 2% compounded semiannually if he needs to have $18,000 in ten years?

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Question 883009: how much should jonathan invest now at 2% compounded semiannually if he needs to have $18,000 in ten years?
Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
p%281%2B0.02%2F2%29%5E%2810%2A2%29=18000 which corresponds to this for the 20 separate compounding periods: p%281.01%29%5E20=18000.

p=18000%2F1.01%5E20
p=14751.8%2Adollars