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You want to invest an amount today that will last for 6 years and allow you to withdraw $ 1 1 5 at the end

You want to invest an amount today that will last for

6

years and allow you to withdraw $

115

at the end of each

6 -

month period. You earn

8 %

APR compounded semiannually on your investment. How much do you need to invest today to achieve your goal?

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