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You want to invest an amount today that will last for 4 years and allow you to with draw $ 5 8 5 at the

You want to invest an amount today that will last for

4

years and allow you to with draw $

585

at the end of each

6 -

month period. You earn

2 %

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

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