A company must pay a $304,000 settlement in 3 years. What amount must be deposited now at 7% compounded semiannually to have enough money for the settlement? How much interest will be earned? Suppose the company can deposit only $100,000 now. How much more will be needed in 3 years? The amount that must be deposited is (Round to the nearest cent as needed.) will be earned. (Round to the nearest cent as needed.) more will be needed in 3 years. (Round to the nearest cent as needed.)
Show transcribed image textA company must pay a $304,000 settlement in 3 years. What amount must be deposited now at 7% compounded semiannually to have enough money for the settlement? How much interest will be earned? Suppose the company can deposit only $100,000 now. How much more will be needed in 3 years? The amount that must be deposited is (Round to the nearest cent as needed.) will be earned. (Round to the nearest cent as needed.) more will be needed in 3 years. (Round to the nearest cent as needed.)