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James Parker wants to buy a new motorcycle 4 years from now. In addition to trading in his current motorcycle, he estimates that he will

James Parker wants to buy a new motorcycle 4 years from now. In addition to trading in his current motorcycle, he estimates that he will need an additional $2,000. Compute the amount that James must invest now if he has to earn 12% compounded quarterly. (Use Tables 16-1A&B or 16-2A&B or a calculator.)

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