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Question 33

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Solve the problem. Solve the problem. -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 5% compounded semiannually, to yield $26,000? A) $16,670.42 B) $23,097.31 C) $20,775.90 D) $20,905.81
-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 5% compounded semiannually, to yield $26,000?


A) $16,670.42
B) $23,097.31
C) $20,775.90
D) $20,905.81

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