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Gil wants to have $9,500 in 7 years. Use the present value formula to calculate how much he should invest now at 2% interest, compounded semiannually in order to reach his goal.
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Gil wants to have $9,500 in 7 years. Use the present value formula to calculate how much he should invest now at 2% interest, compounded semiannually in order to reach his goal.

User Matiash
by
5.3k points

1 Answer

2 votes

Answer:

9500 × 1.02^7

Explanation:

9500 × 1.02^7

Calculate that

User Hleb
by
5.7k points
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