How much money must to put in investment account today


You want $20,000 in 5 years to take your spouse on a second honeymoon. Your investment account earns 7% compounded semiannually. How much money must you put in the investment account today?

a. $14,178
b. $15,985
c. $13,349
d. $12,367

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Finance Basics: How much money must to put in investment account today
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