A company will have to pay a $50,000 liability in four years. How much must be deposited

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A company will have to pay a $50,000 liability in four years. How much must be deposited now into a bank account earning 8% compounded semiannually to fully fund the future payment?

A. $34,000

B. $35,500

C. $36,523

D. $36,550

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Apr 30, 2013 09:03 AM

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A company will have to pay a $50,000 liability in four years. How much must be deposited

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C 36523 Since the interest is compounded semi annually then the interest rat...View the full answer

Contemporary Business Mathematics with Canadian Applications

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