Steps for Shane wants to invest money in an investment account paying...

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Accounting

Steps for
Shane wants to invest money in an investment account paying 6% interest compounding semiannually. Shane would like the account to have a balance of $120,000 four years from now.
How much must Shane deposit to accomplish his goal?
Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1, and PVA of $1).
Multiple Choice
$94,729
$106,618
$14,400
$28,800
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