Suppose you wish to have $18500 in 5 years. use the present value formula to find out how much you should invest now at 9% interest, compounded semiannually, in order to have $18,500, 5 years from...


Suppose you wish to have $18500 in 5 years. use the present value formula to find out how much you should invest now at 9% interest, compounded semiannually, in order to have $18,500, 5 years from now. Then calculate the interest.


The possible answers are:


a. 6587.34


b. 8325.00


c. 10175.00


d. 11912.66


I understand how to do the present value formula but after that I don't understand how to calculate the interest, please help!



Jun 09, 2022
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