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3) I need to have $55,000 saved in 6 years so that I can buy a car. How much do I need to invest (to

3)

I need to have $55,000 saved in 6 years so that I can buy a car. How much do I need to invest (to the nearest dollar) today if the appropriate interest rate is 13.8% per annum compounded semi-annually?

a.

$24696

b.

$3748

c.

$25323

d.

$24369

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