Pete Air wants to buy a used Jeep in 5 years. He estimates the Jeep will cost $16,300. Assume Pete invests $11,300 now at 6% interest compounded semiannually.

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

Maturity value $

b. Will Pete have enough money to buy the Jeep at the end of 5 years?

	No
	Yes