In ten years, the future value of an investment will be $150 000. The interest rate is 4% per annum, compounded half-yearly.
Which equation will give the present value `(PV)` of the investment?
- `PV=(150\ 000)/((1+0.04)^(10))`
- `PV=(150\ 000)/((1+0.04)^(20))`
- `PV=(150\ 000)/((1+0.02)^(10))`
- `PV=(150\ 000)/((1+0.02)^(20))`