Solve the problem.
-Southwest Dry Cleaners believes that it will need new equipment in 6 years. The equipment will Cost $26,000. How much should be invested today at 2% compounded semiannually, to yield $26,000?
A) $24,548.93
B) $24,487.71
C) $25,169.60
D) $23,073.68

Question

Quizplus · Accepted Answer

The Answer of Solve the problem.
-Southwest Dry Cleaners believes that it will need new equipment in 6 years. The equipment will Cost $26,000. How much should be invested today at 2% compounded semiannually, to yield $26,000?
A) $24,548.93
B) $24,487.71
C) $25,169.60
D) $23,073.68

Solve the Problem. -Southwest Dry Cleaners Believes That It Will Need New Equipment