What present value P amounts to $280,000 if it is invested at 5%, compounded semiannually, for 19 years? (Round your answer to the nearest cent.)
What present value P amounts to $280,000 if it is invested at 5%, compounded semiannually, for 19 years? (Round your answer to the nearest cent.)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.CR: Chapter Review
Problem 52E: Investment problem If Landon invests 3000 in a 6-year certificate of deposit at the annual rate of...
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What present value P amounts to $280,000 if it is invested at 5%, compounded semiannually, for 19 years? (Round your answer to the nearest cent.)
P = $ =
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