The Thomassians will need $50,000 in three years to expand their business. What is the equivalent value today, if inflation is projected to be approximately 6.8% per year, compounded semi-annually? *

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 29PS: What rate of interest to the nearest hundredth of percent is needed so that an investment of 2500...
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The Thomassians will need $50,000 in three years to expand their
business. What is the equivalent value today, if inflation is projected to be
approximately 6.8% per year, compounded semi-annually?*
Transcribed Image Text:The Thomassians will need $50,000 in three years to expand their business. What is the equivalent value today, if inflation is projected to be approximately 6.8% per year, compounded semi-annually?*
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