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Joe Beary wants to attend Riverside College. Eight years from today he will need $50,000. If Joes bank pays 6% interest compounded semiannually, what must

Joe Beary wants to attend Riverside College. Eight years from today he will need $50,000. If Joes bank pays 6% interest compounded semiannually, what must Joe deposit today to have $50,000 in 8 years? (Round your answer to the nearest cent.)

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