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Pete Air wants to buy a used Jeep in 4 years. He estimates the Jeep will cost $16,700. Assume Pete invests $11,700 now at 6%

Pete Air wants to buy a used Jeep in 4 years. He estimates the Jeep will cost $16,700. Assume Pete invests $11,700 now at 6% interest compounded semiannually. Calculate the maturity value of the investment. (Use the Table 12.1 provided.) Note: Do not round intermediate calculations. Round your answer to the nearest cent

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