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Brian would like to accumulate $ 1 3 0 , 0 0 0 for his retirement in 9 years. If he is promised a rate

Brian would like to accumulate $

130, 000

for his retirement in

9

years. If he is promised a rate of

4.32 %

compounded semi

-

annually by his local bank, how much should he invest today?

Round to the nearest cent

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