Solve the problem. Round to the nearest cent as needed.
-Cheraw Auto Repair believes that it will need new equipment in 10 years. The equipment will cost $26,000. What lump sum should be invested today at 8% compounded semiannually, to yield $26,000?
A) $21,097.18
B) $17,462.98
C) $11,866.06
D) $17,637.61

Question

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The Answer of Solve the problem. Round to the nearest cent as needed.
-Cheraw Auto Repair believes that it will need new equipment in 10 years. The equipment will cost $26,000. What lump sum should be invested today at 8% compounded semiannually, to yield $26,000?
A) $21,097.18
B) $17,462.98
C) $11,866.06
D) $17,637.61

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