An investment company pays 9% compounded semiannually. You want to have $23,000 in the future. (A) How much should you deposit now to have that amount 5 years from now? $ (Round to the nearest cent.)
An investment company pays 9% compounded semiannually. You want to have $23,000 in the future. (A) How much should you deposit now to have that amount 5 years from now? $ (Round to the nearest cent.)
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Transcribed Image Text:An investment company pays 9% compounded semiannually. You want to have $23,000 in the future.
(A) How much should you deposit now to have that amount 5 years from now?
$ (Round to the nearest cent.)
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