Sam Long anticipates he will need approximately 226400 in 11

Sam Long anticipates he will need approximately $226,400 in 11 years to cover his 3-year-old daughter

P = Po(1+r)^n = $226,400

r = (6%/2)/100% = 0.03 = Semi-annual % rate expressed as a decimal.

n = 2Comp./yr * 11yrs = 22 Compounding
periods.

Po*(1.03)^22 = 226,400
Po = 226,400/1.03^22 = $118156.4622