Paul Lospennato wants to buy a house five years from today for $90,000. Paul wants you to calculate how much he needs today to put in the bank (10% compounded semiannually)to reach his goal in the future.

Name: Paul Lospennato wants to buy a house five years from today for $90,000. Paul wants you to calculate how much he needs today to put in the bank (10% compounded semiannually)to reach his goal in the future.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

10 periods at 5% = .6139 × $90,000 = $55,251.

Paul Lospennato Wants to Buy a House Five Years from Today