Question

An investment company pays 9​% compounded semiannually. You want to have $ 19,000 in 10 years

Answer 1

Answer:The question is incomplete.; This is the complete question.

An investment company pays 9​% compounded semiannually. You want to have $ 19,000 in the future, how much should you deposit now to have that amount 5 years from now.

Answer.

The amount he should deposit now to have that amount in 5 years is $8,025.80

Step-by-step explanation:

By using the compound interest formula

A= p[1+ r/100]^n

A= 19000, r=9%, n= 2×5=10

19000=p[1+0.09]^10

19000= p[1.09]^10

P= 19000/(1.09]^10

P=$8,025.80