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Homework answers / question archive / You want to make an investment that will yield a lump sum of $ 94,393 in 5 years

You want to make an investment that will yield a lump sum of $ 94,393 in 5 years

Finance

You want to make an investment that will yield a lump sum of $ 94,393 in 5 years. You will invest at a nominal rate of 9 %. How much do you need to invest today to reach the above future value? Enter your answer to the nearest $.01. Do not use $ or , signs in your answer. Enter your answer as a positive number.

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