Anticipates he will need approximately

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Reference no: EM131211137

Sam Long anticipates he will need approximately $225,400 in 13 years to cover his 3-year-old daughter’s college bills for a 4-year degree. How much would he have to invest today at an interest rate of 6 percent compounded semiannually? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

Reference no: EM131211137

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