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Help meeee plsss

Ms. Whodunit needs $15 000 to go on her dream vacation in four years. How much
does she need to invest now in an account earning 5.5% annual interest
compounded semi-annually?

After learning about finances in grade 11, you decide to put money and at the end
of every month invest $150 into the stock market for the next 48 years (until you
retire). Assuming the market returns 7% per annum, compounded monthly, how
much will you have after 48 years?

Help meeee plsss Ms Whodunit needs 15 000 to go on her dream vacation in four years How much does she need to invest now in an account earning 55 annual interes class=

Respuesta :

The amount of money needed to be invested now in an account earning 5.5% annual interest compounded semi-annually will be $12073.60.

How to calculate the amount?

Whodunit needs $15 000 to go on her dream vacation in four years. It should be noted that the number of semi annual period will be:

= 2 × 4 = 8

The amount to invest will be:

PV = FV(1 + r)^n

= 15000/(1 + 2.75%)

= 12073

Therefore, the amount of money needed to be invested now in an account earning 5.5% annual interest compounded semi-annually will be $12073.60.

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