1pts
lois smith wants to retire in california when she is 70
years of age. lois, who is now 50, believes she will need
$400,000 to retire comfortably. to date, she has set
aside no retirement money. if she get an interest rate of
8% compounded semiannually, she will have to invest
(blank) today.
o $38,000
$83,320
o $38,320
o none of the above