In ten years time a person would like to have accumulated $22,109 so they can make a down payment on a house. How much do they need to deposit today at an annual interest rate of 9.98% if the account compounds semiannually? Enter a number rounded to two decimal places.

In ten years time a person would like to have accumulated $22,109 so they can make a down payment on a house. How much do they need to deposit today at an annual interest rate of 9.98% if the account compounds semiannually? Enter a number rounded to two decimal places.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 11RE: Samuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the...

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