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salonijainnn salonijainnn
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A month ago

Mel Ross thinks he would like to buy a used car in five years for $8,000. He wants to put the money aside now so that in five years the $8,000 will be available. His bank offers him 12% interest, compounded semiannually. Calculate what Mel must invest today?

Note: Round your answer to the nearest cent.

Textbook 
Math for Business and Finance: an Algebraic Approach

Math for Business and Finance: an Algebraic Approach


Edition: 3rd
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jmoline2jmoline2
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A month ago
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salonijainnn Author
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A month ago
Helped a lot
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this is exactly what I needed
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2 hours ago
Good timing, thanks!
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