Question: Your plan is to have $ 4 5 , 0 0 0 in your account, 1 1 years from today. You can invest in an

Your plan is to have $45,000 in your account, 11 years from today. You can invest in an account that pays 6.7 perceit, compounded semi-annually. How much do you have to invest today to attain your target in 11 years?
a. $91,837.7272
b. $22,668.1079
c. $21,796.2576
]. $24,193.8459
e. None of the above
 Your plan is to have $45,000 in your account, 11 years

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!