A friend of yours wants to buy an entertainment system with a giant TV screen. He can set aside $1,400 today and keep it in the bank to make the purchase. If your friend receives 5.0%, composed semi-annually, how much money can you spend on the purchase of your entertainment system within four years? Round up to $1 next.

Select one:

to. $1,604

b. $1,706

c. $1,283

d. $1,545

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