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Interest compounded semi-annually

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You would like to purchase a car in 2 years and have $9000 as a down payment. If you are able to earn 5.2% interest compounded semi-annually, how much do you need to deposit today in order to reach your financial goal? Round your final answer to 2 decimal places (nearest cent) and do not enter a dollar sign or a negative value.

Reference no: EM132971001

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