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OpenStudy (anonymous):
Jackie Rich would like to buy a $19,700 Toyota hybrid car in 5 years. Jackie wants to put the money aside now. Jackie’s bank offers 10% interest compounded semiannually. How much must Jackie invest today?
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OpenStudy (anonymous):
Jackie's bank is very generous. Look into the compound interest formula; you know the final amount, the term, and the rate.
OpenStudy (anonymous):
$12,094.09
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