Question

An investment company pays 8​% compounded semiannually. You want to have $12,000 in the future. How much should you deposit now to have that amount 5 years from​ now? (Round to the nearest cent)

Answer 1

Let d be the necessary amount for your deposit. Then:
12000=d x (1+.08/2)^2x5
12000=d x (1.04)^10
d=8106.77 ☺☺☺☺