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4% interest compounded semiannually. What must Tony deposit today so he will have $60,000 in four years?

4% interest compounded semiannually. What must Tony deposit today so he will have $60,000 in four years?
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4% interest compounded semiannually. What must Tony deposit today so he will have $60,000 in four years?

User Bedilbek
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Tony must deposit $47,845.50 today in order to have $60,000 in four years with 4% interest compounded semiannually.
User TomoJ
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