FINC 3131 – You need $22,600 today in order to have $100,000

FINC 3131 – You need $22,600 today in order to have $100,000

FINC 3131 – You need $22,600 today in order to have $100,000

Subject: Business    / Finance
Question
You need $22,600 today in order to have $100,000 when you retire 42 years from now. What rate of interest was used in the present value computation? Assume interest is compounded semi-annually.

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