## Answers

We use the formula:

A=P(1+r/2)^2n

where

A=future value

P=present value

r=rate of interest

n=time period.

40,000=P*(1+0.1/2)^(2*5)

P=40,000/(1+0.1/2)^(2*5)

=40,000*0.613913254

**=$24556.53(Approx).**

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