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Tony Ring wants to attend Northeast College. He will need $70,000 6 years from today. Assume Tony's bank pays 8% Interest compounded semiannually. What must

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Tony Ring wants to attend Northeast College. He will need $70,000 6 years from today. Assume Tony's bank pays 8% Interest compounded semiannually. What must Tony deposit today so he will have $70,000 in 6 years? (Do not round intermediate calculations. Round your answe the nearest cent.) Amount to be deposited

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