SOLUTION: An investment company pays 6​% compounded semiannually. You want to have $ 11 comma 000 in the future. ​A) How much should you deposit now to have that amount 5 years from​

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Question 1148880: An investment company pays 6​% compounded semiannually. You want to have $ 11 comma 000 in the future.
​A) How much should you deposit now to have that amount 5 years from​ now?
B) 10 years from now?

Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+11000+=+P%2A%28+1+%2B+.06%2F2+%29%5E%28+2%2A5+%29+
+11000+=+P%2A1.03%5E10+
+P+=+11000+%2F+1.344+
+P+=+8184.52+
$8,184.52
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+11000+=+P%2A%28+1+%2B+.06%2F2+%29%5E%28+2%2A10+%29+
+11000+=+P%2A1.03%5E20+
+P+=+11000+%2F+1.806+
+P+=+6090.43+
$6,090.43
check the math