Jill Peck plans to buy a lawn tractor for $3,150 after three years. If the annual interest rate she could earn is 5.0%, compounded every six months, how much money should she set aside today for the purchase? Answer a. $2,415 b. $998 c. $2,662 d. $2,716 Answer d. $2,716

Jill Peck plans to buy a lawn tractor for $3,150 after three years. If the annual interest rate she could earn is 5.0%, compounded every six months, how much money should she set aside today for the purchase?
Answer
a. $2,415
b. $998
c. $2,662
d. $2,716



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