Sam Long anticipates he will need approximately $226,800 in 15 years to cover his 3-year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8 percent compounded semiannually? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount Present value interest factor of $1 per period at i% for n periods. PVIF(in) 15% 20% 25% 30% | 35% | 40% 45% 50% | 55% | 60% | 65% | 70% 75% 80% 85 2 0.9901 0.9803 0.9707 09612 0.9518 0.9426 0.9335 09246 0.9157 0.9070 08985 0 8900 0.881708734 08653 0.8573 0.8495 3 0.9851 0.9706 0.9563 09423 0.9286 0.9151 0.9019 08890 0.8763 08638 08516 0 8396 0.8278 08163 08050 0.7938 0.7829 4 | 0 9802 0 9610 0 9422 | 0 9238 | 0 9060 0 8885 | 0 | 0 8386 0.8227 | 0 8072 | 0 7921 0.7773 0.7629 0 7488 | 0 7350 07216 5 0.9754 0.9515 09283 09057 0.8839 0.8626 0.8420 08219 0.8025 0.7835 0.7651 0 747307299 0.7130 0.5965 0.6806 0.6650 6 0.9705 0.9420 0.9145 08880 08523 08375 08135 0.7903 0.7679 0.7462 07252 0 7050 0.6853 0.6663 0.5480 0.6302 0.6129 7 0.9557 0.9327 09010 08705 0.8413 0.8131 0.7860 0759 0.7348 0.7107 06874 0 6651 0.6435 0.62270.5028 0.5835 0 5649 8 | 0 9509 0 9235 0 8877 | 0 8535 0 8207 0 7894 0 7594 | 0 7307 | 0 70 32 0 6768 | 0 6516 | 0 6274 0 6042 | 0 5820 | 0 5607 | 0 5403 0 5207 9 0.9561 0.9143 0.8746 083680.8007 0.7864 0.73370702 0.6729 0.8446 06176 0 5919 0.5574 0.5439 05216 0.5002 0 4799 10 0 9513 0.90530.8 0.7812 07441 0.7089 0.8758 0.8439 0.6139 05834 05584 0.5327 0.5083 04852 04632 0.4423 11 0 9488089830.8489 08043 0.7821 0.7224 0.6849 0.8498 0.8162 0.5847 05549 0.5288 0.5002 0.4751 0451304289 0.4078 12 0 9419 0 8874 0 8364 | 7885 0 7436 0 7014 0 66 18 | 0 6246 0 5897 0 5588 0 5260 | 0 4970 0 4697 0 4440 | 0 4199 | 0 397 1 0 3757 13 0 9372 0 8787 0 82 0 6394 | 0 6006 0 5643 0 5303 0 4986 | 4688 0 4410 0 41 50 0 3906 | 0 3677 0.3463 14 09328 0.8700 08118075790.70770.66110.6178 057750.54000.505104726 0 0.3878 0363303405 0.3191 15 0 9279 0.8613 07999 07430 0 6905 0.6419 | 05969 05553 05167 0 4810 04479 03888 0.3624 3380 03152 0 16 0.9233 08528 0.78800/284 0.67380.62320.5767 053390.4945 0.45810 4246 0393 0.3851 0.3387 0314402919 02711 17 09187 084440.77640.7142 0.6572 0.6050 0.5572 05134 04732 0.4363 04024 03714 0.3428 0.3166 02925 02703 0 2499 18 0 9141 083600.7649 0.7002 0.6412 0.5874 0.5384 04935 0.4528 0.4155 03815 03503 0.3219 02959 02720 02502 0 2303 19 09096 082770.7536 06864 0.6255 0.5703 0.5202 04746 0.4333 0.3957 03616 0.3305 0.3022 02765 02531 02317 0 2122 20 0 9051 0.81950.7425 0.5730 0.6103 0.5537 0.5026 04564 04146 0.3769 03427 0.3118 02838 02584 02354 02145 0.1956 21 0 9005 0 8114 0 7315 | 0 6598 0 5954 0 5375 | 0 4856 | 0 4388 0 396 0 3589 0 3249 | 0 2942 | 0 2665 | 0 24 15 | 0 2190 | 0 1987 0 1803 22 0 896 0 8034 0 7207 | 0 6468 | 0 5809 0.5219 | 0 4692 | 0 4220 0 379 0 34 18 | 0 3079 | 0 2775 0 2502 | 0 2257 0 2037 | 0 1839 0 1662 23 0 89160.79540.7100 0 6342 0.5567 0.5067 04533 0 4057 0.3634 0.3256 02919 02618 02349 02109 0.1895 0.1703 0.1531 24 0 8872 0.7878 0.6995 0 6217 0.5529 0.4919 0.4380 03901 03477 0.3101 02787 2470 02208 0.1971 0.1783 0.15770.1412 25 0 8828 0.77980.6892 06095 0.5394 04778 04231 03751 0.3327 02953 02622 2330 02071 0.1842 0.1840 0.1460 0.1301 26 0 8784 0 7720 0 6790 | 0 5976 0 5262 0 463 04088 | 0 3607 03184 02812 | 02486 | 02198 0 1945 0 1722 | 0 1525 | 9 27 0 8740 0.7844 0 6690 | 0 5859 0 5134 0.4502 0.3950 | 03468 03047 02678 02356 | 02074 0.1826 0.1609 | 0 1419 | 0 1252 0.1105 8714 0.8548 617 08203 401 0.7730 07254| 06810 0.4423 0.4141 0.4173 2711 764 07142 0.1352 0.119 17 03335 29 08653 0.74930.6494 0 5631 0.4887 0.424303687 0320702790024290 2117 01840.1810 0.1406 0.12280.1073 0.0939 0.1741 0.15 1314 0.1142 31 0.8567 0.73460.6303 05412 0.4551 0.4000 0.3442 02965 02555 02204 0.1902 0.1643 0.1420 0.1228 0.1063 0.0920 0.0797 32 0.8525 0.72730.6210 05305 0.4538 0.3883 0.3326 02851 02445 0.2099 0.1803 0.1550 0.1333 0.1147 0.0988 00852 0.0735 33 0 8482 0.72010.6118 05202 0.4427 0.3770 0.3213 02741 02340 0.1999 0.1709 0.1462 0.1252 0.1072 0.0919 00789 0067 34 0 8440 071300.6028 05100 0.4319 0.3660 0.3105 02635 02239 0.1904 0.1620 0.1379 0.1175 0.1002 00855 00730 0.0624 35 0 8398 0.70590.5939 05000 04214 0.3554 0.3000 02534 02143 0.1813 0.1535 0.1301 0.1103 00937 00795 00676 0.0575 36 0 835 0 6989 0 5851 | 0 4902 0 4 1 1 1 0 3450 | 0 2898 | 0 2437 0 2050 0 1727 0 1455 | 0 1227 01036 0 0875 | 0 0740 | 0 0625 0 0530 37 0 8315 0.69200.5764 0480 0.4011 0.3350 0 2800 02343 0.1962 0.1644 0.1379 0.1158 0.0973 00818 0 0688 0.0580 0.0489 38 0 8274 0 6852 0 5679 | 047 12 0 3913 0 3252 | 0 2706 | 02253 0 1878 0 1566 0 1307 | 0 1092 00914 | 00765 | 00640 | 00537 00450 39 0 82320.6784 0.559504619 0.3817 0.3158 02614 021880.1797 0.1491 0.1239 0.1031 0.0858 00715 0059600497 0.041 40 0 8191 0.67170.5513 045290.3724 0.306802526 020830.1719 0.1420 011750.0972 0.0805 0.0688 0058400460 0.0383 41 0 8151 0.88500.5431 04440 0383302978 02440 020030.1845 0.1353 0.113 0.0917 0.0758 0.0624 00516 004280.0353 42 081 10 0 6584 0 5351 | 04353 0 3545 0 2890 02358 | 0 1926 0 1574 0 1288 1055 | 00865 00710 00583 | 00480 | 00395 00325 43 0.8070 0.65190.5272 0.4268 0.3458 02805 022780.1852 0.1507 0.1227 0.1000 00816 0.0667 0.0545 00446 0.0365 0.0300 44 0.8030 0.64540.5194 04184 0.3374 02724 02201 0.1780 0.1442 0.1169 00948 00770 00626 0.0509 00415 0.0338 0.0276 45 0 7990 0.63910.5117 04102 03292 02644 0212701712 0.1380 0.1113 00899 00727 00588 00476 00386 00313 00254 46 0 7950 0.63270.5042 0.4022 0.3211 02567 0 20550.1646 0.1320 0.1060 00852 00685 0.0552 0.0445 00359 0.0290 0.0235 47 0 7910 0 6265 0 4967 | 0 3943 0 3133 0 2493 0 1985 0 1583 0 1263 0 1009 0 0807 | 0 0547 0 0518 0 0416 0 0334 | 0 0269 0 0216 48 0 7871 0.62030.4894 0 3865 0.3057 02420 0.19180.1522 0.1209 00951 00765 00610 0.0487 00389 00311 00249 0.0199 49 0 7832 0.61410.4821 03790 02982 02350 0.18530.1463 0.1157 0.0916 00725 00575 0.0457 00353 00289 00230 00184 0 0 7793 06080 04750 03715 0 2909 02281 01791 0140701107 00872 0 0688 00543 00429 00339 00269 00213 0 0169