Rachelle wants to have $5000 in 4 years to spend on new furniture. How much must she invest today to reach her goal if she is using an account that pays 3.11% interest compounded semiannually?
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11. What is the interest rate as a decimal? A) 3.11 B) 0.311 C) 0.0311 D) 0.00311
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12. What is the value of 'n'?
A) n = 1 B) n = 2 C) n = 4 D) n = 12
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13. What is the Future Value?
A) $4419.36
B) $5000
C) $4700.72
D) $3913,49
US