A trust fund is to be established by a single payment so that at the end of 15 years, there will be $20,000 in the fund. If the fund earns interest at thế rate cof 8% compounded semiannually, how much should be deposited initially into the fund? (Round your answer to nearest Dollar). $6,065 $7,342 $6,472 $7,143 $6,166 Boş birak

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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A trust fund is to be established by a single payment so that at the end of 15 years, there
will be $20, 000 in the fund. If the fund earns interest at the rate of 8% compounded
semiannually, how much should be deposited initially into the fund? (Round your answer to
nearest Dollar)
$6,065
$7.342
$6,472
$7,143
$6,166
Boş bırak
Transcribed Image Text:A trust fund is to be established by a single payment so that at the end of 15 years, there will be $20, 000 in the fund. If the fund earns interest at the rate of 8% compounded semiannually, how much should be deposited initially into the fund? (Round your answer to nearest Dollar) $6,065 $7.342 $6,472 $7,143 $6,166 Boş bırak
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