$11$

Jim Ryan, an owner of a Burger King restaurant, assumes that his restaurant will need a new roof in $9$ years. He estimates the roof will cost him $$9,500$ at that time.

$0\mathrm{.}5$

What amount should Jim invest today at $6\%$ compounded quarterly to be able to pay for the roof? $($Use the Table provided.$)$

points

Note: Do not round intermediate calculations. Round your answer to the nearest cent.