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Answer: 2) The Tanner's have received an $8000 gift from one of their parents to invest in their child's college education. They estimate they will

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Answer: 2) The Tanner's have received an $8000 gift from one of their parents to invest in their child's college education. They estimate they will need $20,000 in 12 years to achieve their educational goals for their child. What interest rate compounded semiannually would the Tanners need to achieve this goal? [Show your work to receive credit]

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