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Pete Air wants to buy a used Jeep in 6 years. He estimates the Jeep will cost $16,900. Assume Pete invests $11,900 now at 10%

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Pete Air wants to buy a used Jeep in 6 years. He estimates the Jeep will cost $16,900. Assume Pete invests $11,900 now at 10% interest compounded semiannually. a. 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. Answer is complete but not entirely correct. b. Will Pete have enough money to buy the Jeep at the end of 6 years? Yes No

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