Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Carol wants to invest money in an investment account paying 6% interest compounding semi-annually. Carol would like the account to have a balance of $53,000 four years from now. How much must Carol deposit to accomplish her goal?
Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1, and PVA of $1).
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