Sylvia is considering depositing $600 at the end of eachsemi-annual period, for 5 years earning interest of 8%. She wouldlike to know how large a one-time lump sum deposit she could make,at the same rate, to have the same amount of money after 5years.
Sylvia later decides needs $ 11,000 in 8 years. She has theopportunity to make a one-time investment that will earn 10%compounded quarterly. How much must she invest to reach hergoal?
