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Pete Air wants to buy a used Jeep in 5 years. He estimates the Jeep will cost $16,800. Assume Pete invests $11,800 now at 8%

Pete Air wants to buy a used Jeep in 5 years. He estimates the Jeep will cost $16,800. Assume Pete invests $11,800 now at 8% interest compounded semiannually.

Calculate the maturity value of the investment. (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

ure value interest factor of $1 per period at i% for n peri 425641 47 25.9048

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