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Roy Gross is considering an investment that pays 7.50 percent. How much will he have to invest today so that the investment will be worth

Roy Gross is considering an investment that pays 7.50 percent. How much will he have to invest today so that the investment will be worth $29,500 in six years? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to the nearest penny.)

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