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1 January, 04:37

Great Dish believes that it will need new equipment in 8 years. The equipment will cost $26,000. What lump sum should be invested today at 12%, compounded semiannually, to yield $26,000?

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  1. 1 January, 06:20
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    A=p (1+I/k) ^tk

    26000=p (1+0.12/2) ^ (2*8)

    Solve for p

    P=26,000: (1+0.12:2) ^ (2*8)

    P=10,234.80
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