Question: Required information Problem 0 4 . 0 2 2 - A friend has saved for seven years Skip to question A friend tells you she

Required information
Problem 04.022- A friend has saved for seven years
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A friend tells you she has saved for seven years and has a present sum of $26000, which she earned at the rate of 11.00% per year, compounded semi-annually.
Problem 04.022.a - Determine the equivalent amount
Determine the equivalent amount she had to start with seven years ago.(Round the final answer to three decimal places.)
The equivalent amount she had to start with seven years ago is $ .

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