Short Answer
Janet Ring estimates she will need $35,000 for a new computerized office system. Janet decided to put aside the money today so that it will be available in 10 years. Pod Bank offers Janet 8% interest compounded semiannually. How much must Janet invest today to have $35,000 in 10 years?
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8% / 2 = 4%; 10 × 2 ...View Answer
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Correct Answer:
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