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Pete Sist wants to buy a new Chevrolet in five years. He estimates the car will cost $24,000. ...

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Pete Sist wants to buy a new Chevrolet in five years. He estimates the car will cost $24,000. ...

Pete Sist wants to buy a new Chevrolet in five years. He estimates the car will cost $24,000. Assuming Pete invests $15,000 now at 10% interest compounded semiannually, will he have enough money to buy the car at the end of five years? How much will Pete have?

Note: Round your answer to the nearest cent.

Textbook

Math for Business and Finance: an Algebraic Approach

Edition: 3^rd

Author: Slater

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pattytcakes Author

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Correct

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