Two partners agree to invest equal amounts in their business. One will contribute $10,000 immediately....

50.1K

Verified Solution

Question

Finance

image
Two partners agree to invest equal amounts in their business. One will contribute $10,000 immediately. The other plans to contribute an equivalent amount in years. How much should she contribute at that time to match her partner's investment now, assuming an interest rate of 2% compounded semiannually? (Type an integer or decimal rounded to two decimal places as needed)

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