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Tony Ring wants to attend Northeast College. He will need $60,000 5 years from today. Assume Tony's bank pays 6% interest compounded semiannually. What must

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Tony Ring wants to attend Northeast College. He will need $60,000 5 years from today. Assume Tony's bank pays 6% interest compounded semiannually. What must Tony deposit today so he will have $60,000 in 5 years? (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount to be deposited

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