Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sam long anticipates he will need approzimately $2

Sam Long anticipates he will need approzimately $227,300 in 14 years to cover his 3-year-old...

60.1K

Verified Solution

Question

Accounting

Sam Long anticipates he will need approzimately $227,300 in 14 years to cover his 3-year-old daughter's college bills for a 4 year degree.
How mych would he have to invest today af an interest rate of 10% compounded semiannually?
image
Sam Long anticipates he will need approximately $227,300 in 14 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 10% compounded semiannually? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Captin Kirk has been forced to take the Enterprise to the center of the galaxy, which...

Advance Math
1.2K views

Will Rogers spun a lasso in a vertical circle. The diameter of the loop was 6...

Geometry
1.2K views

Which of the following is equivalent to the line x t 1 1 1 1...

Basic Math
1.2K views

6 Evaluate express final answer in scientific notation 0 028 14000 Answer

Basic Math
1.2K views

Solve the equation using the quadratic formula.2x2 =2x+3*w***Score: 0 of 1Next QuestionThe solution set is...

Statistics
1.2K views

14 7 18 Points DETAILS HARMATHAP Let matrix A represent the sales in thousands of...

Statistics
1.2K views

Wine and cancer in women Some studies have sug gested that a nightly glass of...

Accounting
1.2K views

Question 3 (Mandatory) (3 points) What is...

Accounting
1.2K views

On April 1, 2016, Cyclone's Backhoe Co. purchases a trencher for $290,000. The...

Accounting
1.2K views

5. A company comparative partial balance sheets and partial income statement are presented. Balance sheet:...

Accounting
1.2K views

Write an opinion on How does a company properly elect subchapter "S" status

Accounting
1.2K views

Lone Psychic Experience is a sole proprietorship established this year. Alice Lone established the firm...