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Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughters college bills for a 4-year degree. How much would

Sam Long anticipates he will need approximately $227,400 in 15 years to cover his 3-year-old daughters college bills for a 4-year degree.

How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Do not round intermediate calculations. Round your answer to the nearest cent.)

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