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Jackie Rich would like to buy a $ 4 1 , 0 0 0 Toyota hybrid car in 7 years. Jackie wants to put the

Jackie Rich would like to buy a $

41, 000

Toyota hybrid car in

7

years. Jackie wants to put the money aside now. Jackie

s bank

offers

4 %

interest compounded semiannually. How much must Jackie

invest today?

(

Do not round intermediate calculations. Round your

answer to the nearest cent.

)

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