Question 1175892
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{{{ F = P(1+r/n)^(nt)  }}}
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{{{ 1000000 = P(1+0.08/2)^(2*5) }}}
{{{ 1000000 = P(1.04)^10 }}}
{{{ P }}} = {{{ 1000000/(1.04)^10 }}} = {{{ 675564.17 }}}
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Ans: The investor needs to invest $675564.17 today to have $1 million in 5 years.
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Check:  I'll just compute the value of the investment at each 6mo compounding interval:

time(yrs)      value ($)
---------      ---------
0              675564.17
0.5            702586.74
1.0            730690.21
1.5            759917.81
2.0            790314.53
2.5            821927.11
3.0            854804.19
3.5            888996.36
4.0            924556.21
4.5            961537.46
5.0           1000000.00