Carol wants to invest money in a 8% CD that compounds semiannually

Accounting Dec 02, 2020

Carol wants to invest money in a 8% CD that compounds semiannually. Carol would like the account to have a balance of $58.000 three years from now. How much must Carol deposit to accomplish her goal? (EV of 51. PV of $1 EVA of St. and PVA of $) (Use appropriate factor(s) from the tables provided.) Multiple Choice $46.042 $29.000 $45,838 $44,08D

Expert Solution

$45,838

Working Notes-

I/Y=4

N=6

future value = 58000

Present value =58000/(1.04)power6

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