Mia Kaminsky wants to attend Riverside Community College. She will need to have $25,000 six years from today. Mia is wondering what she will have to put back in the bank today so she will have $25,000 six years hence. Her bank pays 5 percent compounded semiannually. By using tables in the handbook, the amount Mia will have to deposit is:
$18,950
$33,226
$18,590
$33,622
None of these

Question

Mia Kaminsky wants to attend Riverside Community College. She will need to have $25,000 six years from today. Mia is wondering what she will have to put back in the bank today so she will have $25,000 six years hence. Her bank pays 5 percent compounded semiannually. By using tables in the handbook, the amount Mia will have to deposit is: 
 $18,950
 $33,226
 $18,590
 $33,622
 None of these