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Tony Ring wants to attend Northeast College. He will need $75,0004 years from today. Assume Tony's bank pays 12% interest compounded semiannually. What must Tony

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Tony Ring wants to attend Northeast College. He will need $75,0004 years from today. Assume Tony's bank pays 12% interest compounded semiannually. What must Tony deposit today so he will have $75,000 in 4 years? (Do not round intermediate calculations. Round your answer to the nearest cent.)

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