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 On the day his son is born, Mike wishes to invest a single sum of money that will grow to $10 000 when his son turns 21. If Mike invests the money at 4%/a, compounded semi-annually, how much must he invest today?

 Feb 18, 2021
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10000 = d ( 1+ .04/2)21*2       Solve for d = the deposit to make

 Feb 18, 2021

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