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what investment must be made today to be able to have 75 000 00 within 1 year and 8 months in an investment fund that pays

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What investment must be made today to be able to have 75,000.00 within 1 year and 8 months in an investment fund that pays 12% compounded bimonthly.

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Answer to a math question What investment must be made today to be able to have 75,000.00 within 1 year and 8 months in an investment fund that pays 12% compounded bimonthly.

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106 Answers

PV = \frac{FV}{(1 + r/n)^{nt}}

FV = 75000

r = 0.12

n = 6

t = \frac{5}{3}

PV = \frac{75000}{(1 + \frac{0.12}{6})^{6 \times \frac{5}{3}}}

PV = \frac{75000}{(1 + 0.02)^{10}}

PV = \frac{75000}{(1.02)^{10}}

PV = \frac{75000}{1.21899}

PV\approx61526.12

So, the investment required today is approximately

61526.12

.

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