Solved: Future value of a bond fund, Finance Basics

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Future value of a bond fund

Problem:

Bob has a rich uncle who wishes to help with his education. He will invest in a bond fund paying 4% compounded semi-annually and maturing in 18 years. How much should he invest if he wants the value of his bond fund to be worth $85,000 when it matures? _____ ?

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Finance Basics: Future value of a bond fund

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