An investment company pays 8% compounded semiannually. You want to have $11,000 in the future. ... (A) How much should you deposit now to have that amount 5 years from now? 7,432.12 (Round to the nearest cent.)
An investment company pays 8% compounded semiannually. You want to have $11,000 in the future. ... (A) How much should you deposit now to have that amount 5 years from now? 7,432.12 (Round to the nearest cent.)
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
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Transcribed Image Text:An investment company pays 8% compounded semiannually. You want to have $11,000 in the future.
(A) How much should you deposit now to have that amount 5 years from now?
$7,432.12 (Round to the nearest cent.)
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