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Juan wants to have $45,000 available to make a down payment on a house at the end of 4 years. His account earns 6% compounded
Juan wants to have $45,000 available to make a down payment on a house at the end of 4 years. His account earns 6% compounded semi-annually (2 times per year). How much does Juan need to invest every 6 months to reach his goal? (Beginning of period)
A. $3,800-$4,200 | |
B. $4,900-$5,300 | |
C. $12,000-$14,000 | |
D. $17,000-$18,000 |
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