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Monica would like to accumulate $115,000 for her retirement in 12 years. If she is promised a rate of 4.14% compounded semi-annually by her local

Monica would like to accumulate $115,000 for her retirement in 12 years. If she is promised a rate of 4.14% compounded semi-annually by her local bank, how much should she invest today?

Round to the nearest cent

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