How much will the Apple Corporation have to set aside each year to have $60,000 ten years from now? Assume interest is at 10% compounded semiannually. (Round your answer to the nearest cent.)
Fill in the blank(s) with the appropriate word(s).
$1,814.56
$1814.56
PMT = FV (i)/(1+i)^n?1 60,000(.05)/(1.05)^20?1 = 1,814.56
| N | I/Y | PV | CPT PMT | FV | ||||||
| 8 | 3 | 0 | ?1,814.56 | 60,000 |
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