SOLUTION: Suppose you wish to have $16,500 in 2 years. Use the present value formula to find how much you should invest now at 8% interest, compounded semiannually in order to have $16,500,
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Question 977776: Suppose you wish to have $16,500 in 2 years. Use the present value formula to find how much you should invest now at 8% interest, compounded semiannually in order to have $16,500, 2 years from now. Then calculate the amount of interest.
a. $14,104.27
b. $2,353.89
c. $14,146.11
d. $2,395.80 Answer by richwmiller(17219) (Show Source):
