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    Calculating Today's Investment Amount

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    John Hsu wants to start a business in 10 years. He hopes to have $100,000 at that time to invest in the business. To reach his goal, he plans to invest a certain amount today in a bank CD that will pay him 9.50 percent annually. How much will he have to invest today to achieve his target? (Round to the nearest dollar.)

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    https://brainmass.com/business/interest-rates/calculating-todays-investment-amount-543476

    Solution Summary

    The solution gives detailed steps on calculating the amount of today's investment with given annual interest rate and future amount. All formula and calculations are shown and explained.

    $2.19

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