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Jermaine wants to purchase his first home by the time he is 27 years old. If he is currently 16 years old, how much

Jermaine wants to purchase his first home by the time he is 27 years old. If he is currently 16 years old, how much does he need to invest into an account earning 5.3% annual interest compounded quarterly to have a $15,000.00 downpayment when he is 27 years old? Round your final answer to two decimal places.

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