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OpenStudy (anonymous):
PLEASE HELP/EXPLAIN!! Southwest dry cleaners believes that it will need new equipment in 9 years. The equipment will cost $26,000. What lump sum should be invested today at 8% compounded semiannually, to yield $26,000?
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OpenStudy (anonymous):
yeah!! see 260000 = P(1+0.08/2)^(2*5)---------->solve P = $175646.68 (Amount to invest today) =============== Cheers,
OpenStudy (anonymous):
Thank You soooo much!
OpenStudy (anonymous):
Anytime :)
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