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greenisthecolour Group Title

Jackie Rich would like to buy a $19,700 Toyota hybrid car in 5 years. Jackie wants to put the money aside now. Jackie’s bank offers 10% interest compounded semiannually. How much must Jackie invest today?

  • 2 years ago
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  1. geoffb Group Title
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    Jackie's bank is very generous. Look into the compound interest formula; you know the final amount, the term, and the rate.

    • 2 years ago
  2. killerapp7 Group Title
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    $12,094.09

    • 2 years ago
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