Share
Explore BrainMass

Future Value of a Bond Fund

Bob has a rich uncle who wishes to help with his education. He will invest in a bond fund paying 4% compounded semi-annually and maturing in 18 years. How much should he invest if he wants the value of his bond fund to be worth $85,000 when it matures? _____ ?

Attachments

Solution Summary

The solution provides step by step calculations for determining the present value of the required investment.

$2.19