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Pete Air wants to buy a used Jeep in 6 years. He estimates the Jeep will cost $17,400. Assume Pete invests $12,400 now at 12%

Pete Air wants to buy a used Jeep in 6 years. He estimates the Jeep will cost $17,400. Assume Pete invests $12,400 now at 12% interest compounded semiannually.

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

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