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Jonathan would like to retire in 10 years. He currently has $34,000 in an investment account. This account earns 6.5% interest compounded semi annually. At

Jonathan would like to retire in 10 years. He currently has $34,000 in an investment account. This account earns 6.5% interest compounded semi annually. At the end of 10 years, he would like to have $422,000 in the account. To reach this dollar amount, how much will Jonathan need to invest semi annually?

  1. 11,994.33

  2. $12,971.21

  3. None of these choices

  4. $13,688.23

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